Okay, today is Sunday and I think most of us don’t want to think hard(and that’s why financialblog traffic will decreased on Sunday). So no hard article to write. I’m also not in mood to write so in this article I want to share something.
I just found a story (dunno whether it is true or not) on how young brunette using his head to park her luxury car for cheap price. Just read :-
I don’t think the picture related to the story.. Just for your eyes only.
A young brunette from a prominent family walked into a New York City bank and asked for the loan officer. She was going to Europe for two weeks and needed to borrow $5,000.
When asked for security for the loan, she handed over the keys to a new Rolls Royce Phantom Series II Coupés. The car was worth more than $500,000 and it was parked in front of the bank. The young woman had the title and her credit history was pristine. Everything checked out and the bank agreed to accept the car as collateral for the loan.
When she left the loan officers were laughing. No one had ever secured a $5000 loan with $500,000. An employee then drove the Rolls into the bank’s underground garage. Two weeks later, the woman returned and repaid the $5,000 and the interest, which came to $15.41.
The loan officer said “We were very pleased to have had your business, and this transaction worked out nicely. I did a credit check and you have very high net worth. Why would you bother to borrow $5,000?”
She replied ”Where else in New York City could I park my car for two weeks for only $15.41, and expect it to be there when I returned?”
Source Story :- Facebook Republican Security Council
How’s about that? Do you understand the concept? From loan officers persceptive, the woman is dumb because collateral the $500,000 car for $5,000 but after that the loan officer(dunno whethe men/women) know that the young women is really clever. Look at that, you get the car safety in the bank while just paid an interest of $15.41. Even in my country, you won’t get the price for parking. Wish I can meet her. Hahahaha.. That’s show how the rich people think. They think differently from common people.