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Collateral Conditions October 4, 2014

Posted by nrhatch in Humor, Joke.
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250px-New_Orleans_City_of_Old_Romance_and_New_Opportunity_Crop_p_23_MoneybagsHarlan Davis walked into a bank in New York City, asked for the loan officer, and explained that he was going to Paris for two weeks and needed to borrow $5,000.

Since he was not a depositor of the bank, the bank officer told him the bank would need some form of security for the loan.

Harlan nodded and handed over the keys to his new $250,000 Ferrari parked on the street in front of the bank. The bank agreed to hold he car as collateral for a loan at 12% interest.

A bank employee drove the Ferrari into the bank’s private underground garage and parked it.

Two weeks later, Harlan returned from Paris, met with the loan officer, and repaid the $5,000 plus interest of $23.07.

Dollar-BillsWhile waiting for a bank employee to bring the car around, the loan officer said, “Mr. Davis, we are happy to have had your business, but I’m a bit puzzled. When I checked you out on Dunn & Bradstreet, I found that you are a highly sophisticated investor with real estate and financial interests all over the world, including NYC. Why would you bother to borrow $5,000 for a 2-week trip?”

Harlan chuckled, “Where else in New York City can I park my car for two weeks for only $23.07 and expect it to be there when I return?”

Aah . . . that’s better!

Source: ย E-mail from unknown author (sent by Joe M.)

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Comments»

1. Crowing Crone - October 4, 2014

an oldie but goodie. Gotta love creative thinkers.

nrhatch - October 4, 2014

There’s more than one way to peel a potato.

Crowing Crone - October 4, 2014

thank goodness!

2. Silver in the Barn - October 4, 2014

Some people are just smarter than the rest! Reminds me of the old people joke….they save money in retirement by staying on a cruise ship indefinitely! I kind of like that idea.

nrhatch - October 4, 2014

No house. No home owners insurance. No mortgage. No maintenance. No cars. No car insurance. No car maintenance. No furniture. No groceries bills. No utility bills. Etc. Etc. Etc.

Just three line items ~> Travel, Health, Clothes.

And if they get tired of cruising, they can visit friends and relatives. :mrgreen:

3. Pix Under the Oaks - October 4, 2014

Oh my gosh!!! I love it!

nrhatch - October 4, 2014

BFF says there are places in Manhattan that charge almost that much for one hour parking. Harlan is a bright bulb. ๐Ÿ’ก

4. ericjbaker - October 4, 2014

The entrepreneurial mind at work!

nrhatch - October 4, 2014

Always one step ahead of the trend.

5. granny1947granny1947 - October 4, 2014

You obviously have MUCH lower interest rates in the USA. ๐Ÿ™‚

nrhatch - October 4, 2014

Especially on our savings.

My HIGH YIELD Savings Account is paying about 0.1% interest at the moment ~ NOT a get rich quick scheme. ๐Ÿ˜›

6. NancyTex - October 4, 2014

Very true. Parking in Manhattan can run as high as $40/hr. Smart guy. ๐Ÿ™‚

nrhatch - October 4, 2014

Amazing prices in the Big Apple.

Once when traveling for business, I asked my secretary to book me for a week at Hotel Meridian where the group of attorneys flying in from all over the country would be staying. She came into my office a few minutes later and explained that she hadn’t booked it because it was {{gulp}} $400+ a night. Fortunately the client didn’t find that outrageous for NYC.

NancyTex - October 4, 2014

Ha! That makes me smile because I paid $389 for a best western a couple months back. ๐Ÿ™‚

nrhatch - October 4, 2014

I’m guessing that trip was 25 years ago . . . nice to know that Best Western has caught up.

7. Grannymar - October 4, 2014

LOL! It is a good one even if I heard it before. These jokes seem to come in cycles, it is the third one to pop up today, and all three had come my way before.

nrhatch - October 4, 2014

Maybe there’s someone somewhere who calendars jokes to re-circulate every couple of years. ๐Ÿ˜›

8. nrhatch - October 4, 2014

This is just a test of the image loader:

nrhatch - October 4, 2014

It worked . . . Huzzah!

Here’s how to add images to a comment:

(1) upload the image to your media gallery
(2) click on edit image and get the WP URL
(3) paste it into the comment.

9. diannegray - October 4, 2014

Haaaaa! very clever indeed! ๐Ÿ˜€

nrhatch - October 4, 2014

I seldom want to post photos in comments, but every once in a while I’ve tried with no success.

Now I know how. Yay!

10. Jill Weatherholt - October 4, 2014

What a brilliant business man! Thanks for the giggles, Nancy. ๐Ÿ™‚

nrhatch - October 5, 2014

Glad you got a kick out of it. Enjoy your Sunday.

11. jannatwrites - October 5, 2014

I like the way he thinks!

nrhatch - October 5, 2014

He;s been around the block (and world) a time or two.

12. colonialist - October 5, 2014

I don’t think like that. Maybe that’s why I’m not rich …

nrhatch - October 5, 2014

I wouldn’t trust a bank employee to drive and park my $250,000 Ferrari. You know, if I had a $250,000 Ferrari. ๐Ÿ˜›

13. Three Well Beings - October 6, 2014

Aha! Now we know how Harlan managed to have so much money! A cunning business man. That was really thinking! ๐Ÿ™‚

nrhatch - October 6, 2014

Cunning and stunning thoughts!


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