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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.
Use 'grace period' in a Sentence. Bill and the dealership went into the contract with the understanding that the purchase of the vehicle had a 5 day grace period in which he could return the car without any charges or fees. 18 people found this helpful. After you buy the product, they give you a grace period to get your money back in case you don't like it, or it has some kind of problem. 15 people found this helpful. AMEX sent me a bill yesterday, but I dont have to pay my credit card just yet, because they have a 30-day grace period. 14 people found this helpful.