A Scotsman Gets A Bank Loan

A Scotsman walks into a bank in Glasgow and asks for the loan officer. He tells the loan officer that he is going to Australia on business for two weeks and needs to borrow £5,000.

The bank officer tells him that the bank will need some form of security for the loan, so the Scotsman hands over the keys and documents of new Ferrari parked on the street in front of the bank. He produces the Log Book and everything checks out. The loan officer agrees to accept the car as collateral for the loan.

The bank's Manager and its officers all enjoy a good laugh at the rough looking Scotsman for using a £120,000 Ferrari as collateral against a £5000 loan. An employee of the bank then drives the Ferrari into the bank's underground garage and parks it there.

Two weeks later, the Scotsman returns, repays the £5,000 and the interest, which comes to £15.41. The loan officer says, "Sir, we are very happy to have had your business, and this 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 multi millionaire. What puzzles us is, why would you bother to borrow "£5,000" ?

The Scotsman replies:

"Where else in Glasgow can I park my car for two weeks for only £15.41 and expect it to be there when I return'"

(from here)

Comments

[Buce]

'Tis said that women in Rome would pawn their fur coats for the summer because it was cheaper than paying storage.

And JSTOR huge database of scholarly articles: it's paywalled. My friend Marvin will register for community college classes so he can get a JSTOR password--then drop the class.

I had a student a while back who discovered a huge disparity between the price of Big Macs in Sesttle v. Shanghai. He figured it would make sense to rent a 747 and import. Adding, as he liked to say, new meaning to the term 'Chinese takeout.'

[Ronsonic]

Some years ago when I was working in New York City some years ago there was a service station in Manhattan that was offering a special deal on oil changes. After awhile it became obvious that they were changing some cars' oil daily. Yep. The oil change was cheaper than parking.