SIGNED! -- Feature Announcement

Leased a car recently? Want to know how you did? Share your deal with the community via our new feature — SIGNED!

In the early days of Leasehackr, we had a feature called Lease Log, in which the Leasehackr team would collect, review, and publish lease contracts submitted by the community. The goal was to counter the opaqueness of the auto industry by sharing real data on deals scored by shoppers. However, due to our limited capacity to handle the volume of submissions, we shelved the project.

It remains our dream to create an open and free platform where consumers are empowered to shop smartly. We have yet to see such a transparent, consumer-oriented database on prices paid (you would think big tech would have solved this problem by now!). We have heard calls from the community over the years to turn our Share A Deal category into a structured database. So we thought we would give this effort a second shot.

After months in the works, we are officially reviving this crowdsourced project. This time, we will name it after our popular Share A Deal caption – SIGNED!

We would like to invite open collaboration for our revived effort. Everyone is welcome to publish their contract numbers in real time – no prior approval is required. To ensure the integrity of the data, we ask a photocopy of a real contract to be submitted. Everyone is welcome to view these contracts and report any errors or unsubstantiated submissions.

Whether you’ve gotten a unicorn or an average deal, we encourage you to submit your numbers to the SIGNED! database. Your input will give others within your region a better sense of the market (not all lease markets are created equal!). If the contract is too daunting for you to parse – ask the community for help by posting it on Share A Deal – I am sure one of us would be happy to upload it for you!

Given the current market conditions, we are also building the finance/cash purchase contract as an upload option, as some may consider owning instead of leasing. Ultimately, Leasehackr is a platform where we educate shoppers about their car purchase options – and shoppers should definitely include leasing into their calculus before they decide!

We will continuously work on improving this database. Please leave any suggestions and ideas you might have below. I would imagine some suggestions would only be possible after we have enough data – but it is good to keep them within our roadmap. Some ideas we have include making each submission shareable via a URL the same way you can with our Calculator and data visualization (though that would require a lot of data for it to be meaningful).

Lastly, SIGNED! is not a replacement of Share A Deal on the forum, but rather a supplement. We still highly encourage folks to post their signed deal on the forum. It’s the conversational exchange that makes this community, not the numbers themselves.

Thank you for supporting our mission! We look forward to driving change with you, one deal at a time.

Victoria and Michael

43 Likes

Nice. Maybe add the “broker/dealer” Y/N flag there also, with broker’s or dealer’s name? This may serve as an extra “review” for them. Though some brokers may not like this idea lol

13 Likes

Along those lines, defining whether deal was in or OOS, since many are willing to travel/ship to score a deal.

1 Like

Retract dealer info from the contract if there is a broker should be a good notice

8 Likes

I meant deals from LH dealers only, obviously :slight_smile:
But yeah, all other dealers’ info should be removed from the contracts

Yup, I meant in general in the contract upload!

1 Like

This is the way. Love it, Love it, Love it!

1 Like

Agreed. A repository of data points that one can pull from for establishing a well researched target deal is the way to go.

5 Likes

Fantastic. This could be a great way to start getting cleaner numbers.

4 Likes

It’s a bit hard to process a zip file on an IOS device.

Thanks for the feedback!

The database takes two kinds of submissions – anonymous submission and a submission recognized by a forum username. If the user chooses to be recognized by inputing their forum username, visitors can easily see the submitter’s forum membership status by clicking on the submitter’s username, which is linked to the member’s forum profile. Quite the contrary, we do not want to flag a deal coming from a dealer/broker as we do not want to turn the database into an advertisement engine.

We encourage folks to provide special context of their deal (such as out of state purchases, loaner, trade-ins) under “Additional Comments” if applicable. Deal region is defined as the location where the deal was signed, not where the buyer resides.

Just fixed that for contracts that only contain a single file. Contract uploads containing multiple files will still be served as a zip file.

We encourage users to redact all personal and vehicle information (incl. VIN) from the contract. The common courtesy you mentioned hasn’t been an issue on the forum. I don’t imagine it to become an issue on SIGNED!?

1 Like

Love this new feature! I haven’t used it yet, but so far all the deals seem to just list the date/year the deal was signed. Of course you can open the contract for each and look at the precise date the deal was signed, but perhaps it might be helpful putting the precise date on the shorthand version of each deal too? As we all know, some of the best deals happen at the end of a month, quarter, year, etc. It would help to know if a given deal, for example, was signed on March 4th vs. March 31st. Someone scrolling through all the deals can have better context this way. Just an idea!

2 Likes

Perhaps it could link to their review thread?

Just want to chime in, I think this is def. a step in the right direction. Great idea!

2 Likes

Update: just added the url sharing feature for each individual SIGNED! submission.

If you recently visited the page, you might need to empty cache on your browser to see the feature.

Thanks to everyone who has submitted his/her deal to SIGNED! We are excited to see what we can build together!

1 Like

to encourage people and gain more traction, we should implement deal of the month, where we get to like the best deals and the one with the most likes at the end of the month can get that award, just something fun :slight_smile:

edit: possibly a month and year filter can be helpful too

4 Likes

Confused about the effective payment on the latest post of a 2021 X3 in NJ.

His payment is $662 a month, and he put up $4,900 in MSDs.

How does that bring his effective payment to $507?

The MSDs is the lessee’s monies that they give to the bank and get back at lease end in exchange for a lower MF. So it shouldn’t be considered as a post-sale rebate.

Even if it was, the math is still not adding up.

Can anyone clear this up for for me?

I agree, the effective on that doesn’t match up unless there are a lot of post sale rebates not accounted for.

The inputs seem to be correct in the form, so the application seems to be miscalculating something. Should be $643 effective.

@littleviolette @michael

I was lookin through and it’s a common pattern for a few. Not sure how the math is being done.