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There is no grace period after signing a car lease. This assumes that there was no misrepresentation or fraud in the inception of the agreement. Also, dealerships generally display a No Cooling Off Period in the financing office and similar language is customarily on the lease and other documents.
If you have any questions as to whether you have a valid license and/or when it will expire please contact the Division at (303) 205-5604. A grace period is the period of time that a license holder may renew their license rather than reapply for their license. C.R.S. 12-6-110(3)(e) allows for a 30 day grace period.