Like you, I love a good bargain. If I can get something for less at at least the same or slightly worse quality, I will generally go for the cheaper option. Haircuts are a great example. Tires? Maybe not as much.
Our friends at Tyre Reviews went and conducted this test. They fitted a Mercedes-AMG C63 with a set of decently well-regarded Continental SportContact 6s and then drove it back-to-back with a set of budget Rotalla RU01 S-Paces.
Through a series of wet handling, wet braking and dry handling tests, Tyre Reviews concluded that sure, you’d save money by buying the cheap tires. The front end turn-in in the rain, braking and rear-end grip in the dry are sacrificed, however.
At least Poor Foam Man got a hug out of this.
It seems like tires are one of those things you shouldn’t cheap out on.