WIP mobile barrel

alexinrage

Hi there, I'm quite new to 3D modeling and have been actively practicing for a month or so. I am yet to make my first 100% finished model (hi-poly > retopology > unwrapping > map baking > texturing > LODs). My finished works are mostly hi and low poly models without textures. And so I decided to start  with something relatively simple. 

I've already finished making the hi-poly and the low-poly meshes in Blender. This is the result:

Time to bake maps... I've decided to do a test bake of the most problematic part - the tire. And the result... It seems kind of OK from distance

But if you look closer, it looks just AFWUL.

 

Now I need some advice. What should I do now to make my normal map look good? Do I need to alter only some baking settings, the  cage, the low-poly mesh or to complete remake the hi-poly mesh? I've also tries to make a new version of the low-poly tire, not completely flat, like this: 

but the result is bad too.
So, hHow would you model and bake this tire? Here's the reference