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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.
Definition of 'grace period'. grace period (É¡reÉªs ËpÉªÉrÉªÉd) Long-term loans are commonly repaid in a steady, regular way, perhaps after an initial grace period. The agreement specifies a grace period of 15 working days.