The lessor has the risk of the future market value of the vehicle. You have the risk of the vehicle's market value when you trade or sell it. You can negotiate a higher mileage limit and pay a higher monthly payment. You will likely have to pay charges for exceeding those limits if you return the vehicle. You may drive as many miles as you want, but higher mileage will lower the vehicle's trade-in or resale value.
Most leases limit wear to the vehicle during the lease term.
You will likely have to pay extra charges for exceeding those limits if you return the vehicle. There are no limits or charges for excessive wear to the vehicle, but excessive wear will lower the vehicle's trade-in or resale value. You'll also have to pay for safety and emissions inspections and any traffic tickets. If you end your lease early, you may have to pay substantial early termination charges. At the end of the lease, if you don't buy the vehicle, you may have to pay a disposition fee and charges for excess miles and excess wear.