An elderly wealthy man walked into a bank in New York City and asked to speak with a loan officer.
He explained that he was traveling to Europe on business for two weeks and needed to borrow $5,000.
The loan officer told him that the bank would require some form of collateral for the loan.
Without hesitation, the man handed over the keys to his brand-new Rolls-Royce worth about $250,000.
“The car is parked right outside the bank,” he said. “And I have all the ownership documents.”
The loan officer agreed to accept the Rolls-Royce as collateral.
After the man left, the loan officer, the bank president, and several employees had a good laugh about someone using a quarter-million-dollar car to secure a $5,000 loan.
One of the employees then drove the Rolls-Royce into the bank’s underground garage and parked it there.
Two weeks later, the wealthy man returned.
He repaid the $5,000 loan along with the interest, which came to $15.41.
The loan officer smiled and said,
“Sir, I have to admit we’re a little confused. While you were away, we looked into your finances and discovered that you’re a multimillionaire. Why would you bother borrowing $5,000?”
The old man smiled and replied,
“Where else in New York City can I park my car for two weeks for only $15.41?”