Thursday, 31 March 2011

Homeowner Loan

Clever...

A wealthy but thrifty man is applying for a secured loan at a bank. The man says that he would like to take out a $1,000 secured loan, and that to save paperwork he would like to just leave his BMW with the bank as collateral. The loan officer thinks that it is odd that such a wealthy man would take out such a small secured loan, but sees no reason to reject the secured loan.
 

A month later the man returns, pays off the secured loan in full (plus a month's interest), and is returned his car. Why did he take out this loan?

30 comments:

  1. this is an old joke about making sure his car is safe and sound for a small sum right? ;)

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  2. he was going away on holiday/business for a month and the bank was beside the airport. the interest on the small loan was a lot less than the parking fees at the airport.

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  3. ohh I think ResCogitans found it. I'll go with what he said

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  4. i love the cleverness of this blog.

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  5. This blog always has me thinking.

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  6. he wants to look like a thief! damn this is hard

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  7. I've heard a variant of this one. The wealthy man is storing his car with the bank because he is either in the city and the parking fees are expensive or he is going on a long trip and doesn't want his car stolen.

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  8. Yeah its for the cheap parking

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  9. he just wants to show off the fact he can afford a bmw :(

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  10. Good question... did anyone came with a plausible answer already?

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  11. He wants to give his car to me? Yea, thats it. He wants to give his car to me.

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  12. anita. I think i love your blog!
    following

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  13. seems like a pretty good idea, I wonder if it would actually work.

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  14. damn.. i can never found out the right answers... lol..

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  15. i'd want to drive my BMW right away lol

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  16. I know the answer, I'm just going to choose not to say it :P

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  17. I'm going to side with them in saying that it was for safe parking for that month.

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  18. I'm truly inspired by your blog! Great to read once again. Keep this up!

    - Pappa Püllï

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