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Wheels with negative offset can have the same effect as a spacer. As shown by the geeky engineer, all steering and load bearing forces are carefully balanced to create maximum performance and longevity. As soon as any element changes, that optimal balance is affected. As Brown Dog said above, straight axles are not subject to alignment or scrub problems due to spacers. The singular effect is the additional leverage that the wheels can apply due to the increased distance from the hub. As an example, anyone who has very deep-dish wheels with lots of negative offset to get that extended "stance" look knows that the wheel bearings will wear out much more quickly than the factory wheels and tires. This is the same effect that large spacers would have.
As far as towing is concerned, the extra component is by its nature another failure point. The more weight on spaced wheels, the larger the effect of the leverage on bearings and such. The quality of the spacer is a huge concern as a cheap aluminum can actually deform and drastically change the torque on the lugs. Bad deal when pulling 20,000 lbs at freeway speeds.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.