Posted 5/3/2024 1:32 PM (GMT 0)
A fellow walks into a bank in New York City and asks to see a loan officer. He meets with one and tells the officer that he's going to Europe on business for two weeks and needs to borrow $5,000.
The bank officer says the bank will need some kind of security for the loan, so the fellow hands over the keys to his brand new Rolls Royce.
Everything checks out, and the bank agrees to accept the car as collateral, and the loan goes through.
But later, after the fellow has left, the bank's president and its officers all enjoy a good laugh at the expense of the fellow, for using a $250,000 car as collateral against a $5,000 loan. An employee of the bank then drives the car into the bank's underground secure garage and parks it there.
Two weeks later, the fellow returns and repays the $5,000 and the interest, which comes to $15.41. The loan officer then says, "Sir, we are very happy to have had your business, and this transaction has worked out quite nicely, but we are a little puzzled. We checked you out and found that you are a multimillionaire. What puzzles us is: why would you bother to borrow $5,000 when you had the money to just pay cash for the trip and everything."
The fellow replies, "Where else in New York City can I park my car for two weeks for only $15.41 and expect it to be there safe and sound when I return?"