A Redneck from South Georgia walked into a bank in New York City and
asked for the loan officer. He told the loan officer that he was
going to Paris for an international redneck festival for two weeks
and needed to borrow $5,000 and that he was not a depositor of the
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%
Later, the bank's president and its officers all enjoyed a good laugh
at the Redneck from South Georgia 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 private 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, and this transaction has worked out very
nicely, but we are a little puzzled.
While you were away, we checked you out on Dunn & Bradstreet and found
that you are a Distinguished Alumni from the University of Georgia,
a highly sophisticated investor and Multi-Millionaire with real
estate and financial interests all over the world. Your investments
include a large number of wind turbines around Sweetwater, Texas .
What puzzles us is, why would you bother to borrow
The good 'ole South Georgia boy replied, Where
else in New York city can I park my car for 2 weeks for only $23.07
and expect it to be there when I return?