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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.
A car lease is a method of obtaining a new or used car that involves only paying for a portion of the carâs actual cost as opposed to having to pay for the car in its entirety.So when you lease a new car you are only paying for the portion of the car you are using over the number of years in your lease agreement.here is always the option of purchasing your leased vehicle at the end of your lease but often times the projected residual value in your agreement is set in stone and you wonât have the option to negotiate on the price of what is now essentially a used car.