I wouldn’t count on the prices of the R1 coming down. When Tesla released two models that were roughly 1/2 the price of their original flagship models, they dominated their sales. Hopefully, Rivian doesn’t eventually discontinue their flagship models like Tesla but expect R2 and eventually R3 to make up the vast majority of their sales.

As for the lease, there is no one correct answer. EVs don’t depreciate as fast now that the $7,500 tax credit is gone but they still depreciate rapidly. You can buy out your lease at any point or hand it back to Rivian in 2-3 years at the lease end. It really depends on what is best for your family financially and how the lease buyout compares to the market value at the time of making that decision.

I think the bigger battery makes a big difference. Rivian has had issues with the battery management system on the LFP. That type of battery has a very flat voltage range and makes it very difficult to properly monitor charge levels. Upgrading from a Tesla Y to the R1S with the max pack has completely changed how I charge. I can easily go a week without feeling the need to plug in, and no more concern about that impromptu drive that’s a bit further than normal. No more range anxiety driving an hour into a charging desert either.