I recommend anything water based. Use neat for higher shine or dilute to your desired finish. I like a dark rich satin finish. I don't like the glazed donut look. Using a microfiber applicator makes the finish more consistent. See link below. If you have larger tires like for an SUV, then I apply with a brush.
My Favorite - Low Profile Applicator
I would highly recommend that you DO NOT use a "Solvent Based" dressing.