See why this man used his £250k Rolls Royce as collateral against a £5k loan

Efo Korsi Senyo
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Efo Korsi Senyo
Managing Editor
Efo Korsi Senyo is the Founder and Executive Editor for AN Network - publishers of Awake News, Awake TV and Awake Africa Magazine. He founder Awake...
2 Min Read

Mr Singh walks into a bank London and asks for the loan officer. He says he’s going to Europe on business for two weeks and needs to borrow £5000. The bank officer says the bank will need some kind of security for the loan, so Mr Singh hands over the keys to a new Rolls Royce, which costs quarter of a million pounds.

“The car is parked on the street in front of the bank,” says Mr Singh, “and I have all the necessary papers.”

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The bank officer agrees to accept the car as collateral for the loan. After Mr Singh leaves, the loan officer, the bank’s president and all their [ads1]colleagues enjoy a good laugh at the man for using a £250,000 Rolls Royce as collateral against a £5,000 loan.

One of the employees drives the Rolls into the bank’s underground garage and parks it there. Two weeks later, Mr Singh returns, repays the £5000 and the interest, which comes to £15.41.

The loan officer says, “Sir, I must tell you, we’re all a little puzzled. While you were away, we checked you out and discovered that you’re a multimillionaire. Why would you bother to borrow £5,000?”

The man replies, “Where else in London can I park my car for two weeks for only £15.41?”

Credit: Unknown source

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Efo Korsi Senyo is the Founder and Executive Editor for AN Network - publishers of Awake News, Awake TV and Awake Africa Magazine. He founder Awake in 2012 and served as the Chief Editor until 2022. He is a businessman and investigative journalist. Email: talktosenyo@gmail.com
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