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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. The grace period is the additional time that lenders allot to borrowers to pay the required mortgage payments without being required to pay late fees. Grace periods may differ with each lender. This additional time is usually within the first five, 10 or 15 days after the actual due date for the payment.