The bank officer tells him that the bank will need some form of security for the loan, so the Chinese man hands over the keys to a new Ferrari parked on the street in front of the bank. He produces the title and everything checks out.
The loan officer agrees to accept the car as collateral for the loan.
The bank's president and officers all enjoy a good laugh at the Chinese man for using a $250,000 Ferrari as collateral against a $5,000 loan. One of the bank's employees then drives the Ferrari into the bank's underground garage and parks it there.
Two weeks later, the Chinese man 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 worked out very nicely, but we are a little puzzled.
While you were away, we checked you out and found that you are a multimillionaire. What puzzles us is, why would you bother to borrow $5,000?"
The Chinese man replies, "Where else in New York City can I park my car for two weeks for only $15.41 and expect it to be there when I return?"