What is a letter of intent?
Your Letter of Intent is the first step in the End of Term process. As per your contract terms, by the date specified in your agreement, you must provide proper written notice (a Letter of Intent) to end the lease. If we don’t receive your Letter of Intent by the date specified in your agreement, your lease will automatically renew. Some contract terms differ.* For example, if you have a $1 Buyout, there is no need to submit a Letter of Intent.
Once we receive your Letter of Intent, we will respond with the End of Term Letter and Form.
*If you are not sure about the terms of your contract, please log in to PEAC Connect and take some time to review your contract. You can use our Glossary of Terms as a resource as you read through your contract. Or contact Customer Service if you need further assistance.