Selling your payments to buy a car

Life doesn’t stop because your car stops. If you know you can’t rely on your vehicle to live the life you want to live – like getting to work on time and being able to spend time with family – then it’s probably time to get a new one instead of continually repairing a lemon.

Access to your annuity savings could provide the down payment you need for a new or used car. Buying a new car is the most expensive option — not only will the car itself cost more, but a new car will also lose around 22 percent of its value in just the first year. However, new cars will need fewer repairs than used and will last longer.

Buying a used car is a great way to get a safe, reliable vehicle for less money. Many car dealerships offer cars that are “certified pre-owned,” meaning the manufacturer has examined, refurbished and certified the vehicle