Currently using an XBox 360 controller. Should I get a racing wheel?

I love driving and am considering getting a racing wheel but am unsure.

I've struggled to get into racing games with an XBox 360 controller. I'm not sure whether it's a lack of interest, or the fact that there is 0 immersion. I get bored quickly. My goal would be to have a setup where it actually feels like I'm driving the car (which a controller lacks), but I'm not sure if this is realistic.