Man Used His $250k Ferrari As A Collateral For The $5k Loan. Why? The Reason Was INSANE!


It has been a mindset that in order to gain success, you needed to work hard to achieve your goals. You needed to get yourself focused to make your dreams come true. 

And in order to do that, you needed to think outside the box on how you could achieve your goals. 

Well, this multi-millionaire man in the story will surely make you want to think more about the decisions that you make. 

The multi-millionaire man named Bubba decided to walk inside a bank in New York City. His $250k Ferrari was left in the parking lot of the bank. 



As he was inside he talked to the loan officer and asked if he could borrow $5, 000 dollars even though he was not a depositor in the bank. He handed the keys of the New Ferrari as a collateral for the loan. 

The bank agreed and took the car inside their bank. The bank officers laughed at what the multi-millionaire's decision. 

But when Bubba returned to the bank, he was asked by the officer out of curiosity about why he used the Ferrari as a collateral. His response was priceless!


"His name was Bubba, he was from Texas and he needed a loan, so he 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 bank.

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% interest.

Later, the bank's president and its officers all enjoyed a good laugh at the Redneck from the Texas 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 Texas A & M, 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 $5,000?"

The good 'ole boy replied, "Where else in New York City can I park my car for two weeks for only $23.07 and expect it to be there when I return?"

His name was BUBBA....keep an eye on those Texas boys! Just because we talk funny does not mean we are stupid!"

Source: SizzlingFeed

Visit and follow our website: Trending News Portal

© Trending News Portal

0 facebook-blogger

Post a Comment