tire in water image by JoLin from Fotolia.com
Tire technology has come a long way over the years. A deformed tire is considered a manufacturer defect; If you turn it, you can see it jump up and down. An out-of-round tire will have more rubber in one area of the tire. In the 1960s and before, it was very common to have a tire out of the round. The manufacturing process has improved in such a way that it is very rare for a tire to be deformed.
Replace the tire if it is still under warranty. If you have a receipt for the tire that is not rounded, the manufacturer will cover it for material defects. Every tire sold in the United States must have a warranty of up to 2/32 inches of the remaining tread. The retailer will replace the tire with a prorated warranty. You can get a discount on the replacement tire based on the amount of tread remaining.
Call tire stores in your area and find one that has a tire shaver. These devices are very expensive and very few tire stores have them today. You may have the best luck at a tire shop that deals with racing tires.
Take your tire out of round to the tire store and have the tire shaved on the razor. Have them rebalance the tire with a high speed balancer as well. Once you shave off the rubber on the tire, the balance will be lost.
Ask the tire shop to turn the tire that is not rounded toward the rear of your vehicle. It is possible that a warped tire can wear out over time.