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See....I am debating this. Dumb question but here goes. I want a bigger tire than stock anyway, but if I switch from my current 20" rim to say a 17", do you think it'd mess up my speedometer? The 20"s probably weigh more?? So the smaller rim and bigger tire should offset each other??
The wheels size by itself will not effect the speedometer. It is the over diameter of the wheel tire that will. If your new tires on the 17" wheels are a larger diameter (taller) then yes your speedometer will be effected. You'll need to go to the dealer and get an update for the larger tires.
what about gas mileage? Is it the weight or just the fact that I'm turning bigger tires.
As the prior poster says, it is the overall diameter of the tire that determines speedometer readings. If you have a 31" overall diameter tire, it does not matter if your wheel is 15", 17", 18", or 20"...although the 15's will not clear the brakes on the newer trucks.
I do not understand your question about mileage here. If you have a 31" tire with the same tread design and width, I would imagine that your gas mileage would not change much based on wheel size alone. In general, the 31" wheel/tire combo would weigh somewhat more with the 20" diameter wheel than with 17 or 18" (metal is heavier than rubber) and might affect your city mileage just a tiny bit (because it takes a bit more power to get the wheel/tire rolling--for a ridiculous example, imagine your tires were full of concrete...they would take a lot more power to get rolling).
Tire spec charts have information like overall diameter, section width, tire weight (don't forget to add wheel weight), etc. Are you considering increasing the overall diameter of the tires?