Collateral
A man walked into a bank and asked to borrow the sum of 2,000 dollars for three weeks. The loan officer asked what collateral the man had.
He replied: “I’ve got a Rolls-Royce. Keep it until the loan is paid off. Here is the key.”
So the loan officer arranged for the car to be driven into the bank’s underground parking for safe keeping and gave the man the 2,000 dollars.
Three weeks later, the man walked back into the bank, paid back the 2,000 dollars loan plus ten dollars interest and regained possession of his Rolls-Royce. The loan officer was mystified: “Tell me, sir,” he said, “why would someone who drives a Rolls-Royce need to borrow 2,000 dollars?”
The man replied: “I had to go abroad for three weeks and where else could I store a Rolls-Royce for that length of time for ten dollars?”
Q : If you were in his situation, where would you store your car?