So you've decided to go all-electric and purchase your first electric vehicle, Nice.

With many options hitting the road in 2022, you may ask if starting with a lease is better than directly purchasing.

Perhaps you were drawn to the Tesla Model X Plaid or the new Ford F-150 Lightning.

There is no simple, one-size-fits-all approach. To some, leasing has advantages, whereas purchasing an EV has numerous benefits.

Leases require less commitment than buying, particularly cash upfront.

In a lease, you only own the vehicle for 36 months, after which you can swap it.

Alternatively, you could purchase the vehicle once the lease period expires.

Unlike the used automobile bubble, which will inevitably burst, EVs are designed to increase in value over time.

Electric vehicles can be routinely updated via over-the-air (OTA) software upgrades.

Because there is less depreciation, this may persuade potential electric vehicle users to purchase rather than lease.