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moving inventory without cutting the sticker price.


DOWNSIDES “A big


misconception is that leasing is always cheaper,” Miller says. But in reality, “It’s only cheaper monthly — not overall.” That’s


Checklist: Buy or Lease?


LEASE IF YOU: Prioritize lower monthly payments Drive a fairly predictable number of


miles annually Prefer a newer vehicle every few years Want to stay under warranty and avoid


surprise repair bills Value flexibility more than long-term


ownership This can be especially appealing


for households that want dependable transportation without committing to a long loan on an expensive vehicle.


especially true for drivers who lease repeatedly. They end up making payments indefinitely while never building equity in a vehicle. On the other hand, buying can


BUY IF YOU: Drive a lot each year Plan to keep a vehicle for many years Dislike ongoing monthly payments Want to customize your car Prefer long-term value over short-term payment relief


THE DOWNLOAD MONEY MATTERS Wear-and-


tear fees. Returning a vehicle with more than normal wear can trigger extra charges at the end of the lease. Early-exit


costs. Life changes. If you need to get out of a lease early because of a move, illness, or financial shift, it can be expensive to do so,


depending on the contract. Buyout math. Some drivers plan to


cost more per month, but eventually that loan ends once paid in full. From that point, you may own that car for eight to 12 years or longer. Leasing, on the other hand, means


restarting a payment cycle every two to four years.


LEASING TRAPS Mileage limits. Most leases


include annual mileage caps. If you underestimate how much you drive, excess-mileage charges can add up quickly. This is especially true if you have


a long commute or take frequent vacations by car. Before signing a lease, calculate


what you typically drive annually to ensure you won’t go over the mileage cap.


buy the vehicle when the lease ends. That can work, but only if the preset buyout price makes sense compared with the car’s actual market value at that time. Strausser says shoppers should ask


in advance how early payoff or buyout terms are handled and understand those numbers before signing.


3 MOVES BEFORE LEASE Don’t sign the paperwork until you compare the monthly lease payment to the monthly payment on a purchase loan for the same car. You also need to estimate your annual mileage honestly. Finally, review the lease-end


buyout price. A deal that looks attractive upfront can become expensive if you exceed mileage limits or later decide to keep the car.


Don’t sign the paperwork until you compare the monthly lease payment to the monthly payment on a purchase loan for the same car. You also need to estimate your annual mileage honestly.


INFLATION ADJUSTMENT The IRS released new federal tax


brackets and standard deduction amounts for tax year 2026, adjusted for inflation. The adjustment helps prevent “bracket creep,” when cost-of- living wage increases push you into a higher tax bracket even though rising inflation limits your purchasing power. The 2026 standard deduction will rise to $32,200 from $31,500 in 2025 for married couples filing jointly, and $16,100 for single filers from $15,750 in 2025. The new brackets could mean you might pay lower taxes this year.


401(K) CONTRIBUTIONS You can contribute up to $24,500 to


your 401(k) this year, up from $23,500 last year. The change applies to 401(k)s, 403(b)s, Thrift Savings Plans (TSPs), and most 457 plans. Catch-up contributions for those 50 and older also increased, from $7,500 in 2025 to $8,000 this year. And those ages 60- 63 still get a special catch-up amount of $11,250. That figure didn’t increase.


CLEAN UP Decluttering isn’t just for your


garage or attic. It’s worthwhile to delete old contacts, forgotten files, and duplicates of photos from your smartphone and other devices because they can hog storage and slow it down. For the calendar, delete outdated recurring events, reminders, or alerts you no longer need. For smart-home apps, remove any you no longer use or have, and give those remaining common names like fridge app, thermostat, or bedroom lamp, so you can locate them easily. For photos: iPhone: Open the Photos app, tap Albums, scroll down to Utilities, and select Duplicates. Tap Merge to combine items. Android: Open the app, tap your


profile picture, select Backup, then Manage storage to access Review and Delete.


OCTOBER 2026 | NEWSMAX MAXLIFE 85


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