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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.
Here's what you need to know... 1  There is no grace period regarding how long you can go after buying a new car without insurance. 2  The grace period refers to how long you can go without consequences for missing a payment. 3  In todayâs age of technology, there is no excuse for not having car insurance coverage.