This is illegal and you should not do it. Although you will most likely get away with it, the music producing company and the composers aren't the only ones negatively affected. Obviously they lose a lot of money that they would've gotten. But you also get to listen to music that is not in its original format and doesn't sound neither unique NOR at its best.
How would you like it if you spent hours of time on a personal song and you knew people were producing illegal copies recreationally without you getting any credit or money for your hard work. Doesn't sound fair, does it?
Best thing to do would be to go to a record store with good deals that sells CDs and/or records and buy yourself some of your favorite CDs and a cheap CD player, or some good records with a decent yet inexpensive vinyl player. You will enjoy the thrill of owning your favorites and will get the best sound and won't have to feel guilty about anything.
It is a common myth that computer transmission of a file of WAV format will be as good as its either analogue or digital counterparts. This is impossible and nothing transmitted in the form of a computer file will EVER sound as good as the original. Especially for precious analogue technology with unique sound waves, but also with digital technology at its original prestine best. WAV STILL loses information when it is transferred as a file. Solution? Don't transfer it as a file, and if you have to transfer, transfer your music LEGALLY in something like a CD recorder, a VCR, or a DVD recorder.
Best regards, and best of luck.
experience and knowledge