wheel (n.) Look up wheel at Dictionary.com
Old English hweol, hweogol, from Proto-Germanic *khwekhwlan, *khwegwlan (cf. Old Norse hvel, Old Swedish hiughl, Old Frisian hwel, Middle Dutch weel), from PIE *k(w)e-k(w)lo- "wheel, circle" (cf. Old Church Slavonic kolo "wheel"), a reduplicated form from root *k(w)el- "to go round" (see cycle).
The root wegh-, "to convey, especially by wheeled vehicle," is found in virtually every branch of Indo-European, including now Anatolian. The root, as well as other widely represented roots such as aks- and nobh-, attests to the presence of the wheel -- and vehicles using it -- at the time Proto-Indo-European was spoken. [Watkins, p. 96]
Figurative sense is early 14c. Slang wheels "a car" is recorded from 1959. Wheeler-dealer is from 1954, a rhyming elaboration of dealer; wheelie is from 1966.
wheel (v.) Look up wheel at Dictionary.com
"to turn like a wheel," early 13c., from wheel (n.); transitive sense attested from late 14c. Related: Wheeled; wheeling.