Just got a new / used 2015 Black Lariat Sport 4x4, she has a good set of 275/60/20 BF Goodrich Tires...

trying to decide to get a level kit or wheels only for her first upgrade.

any thoughts!!?? one or the other for now only. So????

Here are the original wheels

 

I wouldn't do a leveling kit unless I needed one to fit larger tires.

 

If your plan is to upsize your wheel/tire combo to larger than 275/60/20 (33x10.5ish) or go to a wheel that will 'poke' more, you should do the level first so you can get the clearance.

If you have no plans to upsize the wheel/tire combo, then do your wheels. But a level with a 275/60/20 on stock wheels looks good, and then upgraded wheels and tires later will only add to that.