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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.
Lease Term (Months). Lease term is the length of time a car is leased, usually expressed in number of months. Typical leases are 24, 36, 39, or 48 months, although âoddballâ terms, such as 27, 30, and 42 months are sometimes used.