WHEELS on a car that are totally cheap/oldstyle, may have been cool many years ago but NOW simply look ghetto, hoopty, crappy/ridiculous.
It uses the old "Hot Damn!!" saying from years ago--thus denoting the OLD out of style FEEL, and that the OWNER of the "Hot Damns" probably doesn't realize his wheels actually SUCK. He might actually look at his own wheels thinking to himself, "Hot Damn, I'm ballin' with these wheels!"
Perfect for making fun of someone's ride on the DL without them knowing what you are really saying, if they overhear you...
Check out the Hot Damns on that old Caprice...dude probably thinks he's ballin' with them...
that car COULD be cool, except for the Hot Damns he's rolling with!