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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.
grace period. Definition. The additional period of time a lender or insurance policy issuer provides for a borrower to make payment on a debt without penalty. Use grace period in a sentence. â If you owe money for a bill, some companies will allow you a grace period where you can pay your bill late without receiving a fine.