The redneck loan
A Redneck from Alabama walked into a bank in New
York City and asked for the loan officer.
He told the loan officer that he was going to Bakersfield on business for
and needed to borrow $5,000 and that he was not a
depositor of the bank.
The bank officer told him that the bank would need
some form of security for the loan, so the Redneck
handed over the keys to a new Ferrari.
The car was parked on the street in front of the bank. The
Redneck produced the title and everything checked
out. The loan officer agreed to hold the car as
collateral for the loan and apologized for having to
charge 12% interest.
Later, the bank's president and its officers all
enjoyed a good laugh at the Redneck from the south for
using a $250,000 Ferrari as collateral for a $5,000 loan.
An employee of the bank then drove the Ferrari into the
bank's underground garage and parked it.
Two weeks later, the Redneck returned, repaid the $5,000 and the
interest of $23.07.
The loan officer said, "Sir, we are very happy to have had your business,
transaction has worked out very nicely, but we are a little puzzled. While
you were away, we checked
you out and found that you are a multimillionaire. What puzzles us is, why
would you bother to borrow
The Alabama Redneck replied, "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?"
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