Some shops will refinish wheels. If you want to do it yourself, you can do what Dennis Camacho of Canada DSM did:
I just refinished my stock rims and very much pleased with the result. Here's what I did:
- I used a rotating wire brush to loosen that old flaky dull grey finish then I repeatedly soaked them with that automotive paint remover from CT [Canadian Tire] that Scharok mentioned. The old finish is so tough that further sanding is required to expose the aluminum totally.
- I purchased three spray cans of VHT rims paint at Performance Improvements at $11. each. Do not use the MM rims paint from CT. They 're so thin that you'll need at least 6 cans to get the right coating thickness. VHT covered well in just one coat. Follow the instructions on the can for best result.
-If you want to keep the ouside part of the rims in natural aluminum, use a 320 sand paper to remove the oxidized surface then buff to shine with a red rubbing compound using a 4" cloth buffer attached to an electric drill. To preserve the shine, spray a good coat of VHT rims clear coat. As it says on the directions, DO NOT use clear coat on the painted surface as flaking and yellowing will result and it will be most obvious on a white finish. Good luck!
Here is an archived copy of the "Stock Painted Aluminum Wheel Refinishing Step by Step" VFAQ written by Jeff Brinkerhoff