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How to park your car in New York city for $15.41 for 2 weeks

fortunewatch.com — This is how millionaires think

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  • Lordchezz, on 10/10/2007, -25/+4Simply amazing
    • Reziarfg, on 10/10/2007, -0/+24Not really. This wouldn't work simply because banks don't take cars held for collateral into underground storage. You would keep the car and they would come get it if you failed to pay. Humerous, but it wouldn't work.
    • Insightful, on 10/10/2007, -1/+12In addition, in order for the "millionaire" to drive his Ferrari TO the bank, he has to drive it out FROM somewhere right? Could that somewhere be, oh, I don't know, a garage that is mostly likely already paid for?
    • PleaseJustDie, on 10/10/2007, -0/+3I think I've gotten that joke in my e-mail no less than 10 times in the last 5 years...
  • jeffiek, on 10/10/2007, -24/+7Brilliant
  • archistudent, on 10/10/2007, -4/+80Old joke. Heard it with a blond as the lead character.
    • expert01, on 10/10/2007, -1/+12Yes. Buried as lame because the joke existed before internet.
    • appetite, on 10/10/2007, -1/+6and it was used to say millionaires have superior intelligence.
    • bingobongony, on 10/31/2007, -0/+10It wouldn't work as a blond joke
      • Fozefy, on 10/10/2007, -0/+4Ya I was just thinking the same thing, like this is a smart thing to do...
    • adam1mc, on 10/10/2007, -0/+2Agreed. Very OLD. Read this years ago except it was some old woman going to Fiji or something
  • brianbennett, on 10/10/2007, -9/+20Smart thinking, I would have never thought of that.
    • joshua5, on 10/31/2007, -3/+46You, sir, are not a millionaire.
    • bingobongony, on 10/10/2007, -1/+25Because it doesn't work. The bank doesn't physically take possession of your car.
      • rompom7, on 10/10/2007, -1/+3You could surely define such a deal within the contract of the loan.
        • bingobongony, on 10/10/2007, -0/+2No, you couldn't. The bank does not want to be responsible for it. They would absolutely NOT accept the car
  • joshua5, on 10/10/2007, -3/+8Site down, mirror courtesy of The Coral Content Distribution Network ( http://www.coralcdn.org/ )

    http://www.fortunewatch.com.nyud.net/how-a-millionaires-brain-works/
  • VegasKill, on 10/10/2007, -12/+43DIE wordpress, DIE!
    • blablaman, on 10/10/2007, -1/+10It did, again.
    • tech42er, on 10/10/2007, -1/+3You got your wish!
    • maz2331, on 10/10/2007, -0/+5Nothing wrong with WP, just hosting companies that try to share a bunch of WP blogs on one server. I had a client's WP site make front Digg page and stay instantly responsive. A little clustering, PHP caching, and bingo - WP works nice.
    • twertyto, on 10/10/2007, -3/+1DIE elitist prick, DIE!
  • neffy, on 10/10/2007, -13/+1Beautiful.
    • n0t0kayipr0mis3, on 10/10/2007, -0/+5Let's not get tears in our eyes, it wasn't that dramatic.
  • MasterThief117, on 10/10/2007, -11/+1I wonder if this would work with a smaller loan, like 100 dollars.
  • expat001, on 10/10/2007, -9/+17This is a joke, not for real.
  • Fazle, on 10/31/2007, -5/+120because millionaires don't have garages or private parking...
    • davidrools, on 10/10/2007, -4/+6and what airport is he flying out of in NYC? chances are he'll still have to take a cab from the bank. might as well take a taxi from home. retarded. and the boys at the bank will probably enjoy his car for a little bit before he gets back. that's how millionaires think: retardedly.

      i know it's a joke but diggers like to nitpick right?
      • bryan986, on 10/10/2007, -0/+3Um, you think he actually took a flight?
    • Calcularius, on 10/10/2007, -0/+4Nor the ability to borrow $5000 based on their credit history apparently.
  • jenrzzz1, on 10/10/2007, -1/+2Older than your face, but still a great idea.
  • TripleAStacked, on 10/10/2007, -2/+1Ah... no twisted ending =(
  • Useight, on 11/05/2007, -0/+69Note to self: Buy a Ferrari.
    • toconnor, on 10/10/2007, -2/+12Plus, and I must be honest here, I love driving it. I highly recommend picking one up.
      • Firehed, on 10/10/2007, -0/+10Whoever buried the man who made the Ferris Bueller reference must die a painful death. Preferably by being run over by his Ferrari as it's being polished with a diaper.
  • rmeyers, on 10/10/2007, -5/+7aka. How Cheap Millionaires Really Are
    • bromac, on 10/10/2007, -1/+6You don't get rich by spending your money, smart guy.

      I knew a millionaire that gave his son-in-law a six figure check, and then walked down to the store. He wouldn't buy the apples because they were 20c more expensive than he thought they should be.

      This is why iPhone users are still poor, and Jobs is rich.
      • netant, on 10/10/2007, -0/+5nitpicks:

        1) Pointing out that he wrote a six figure check to his son-in-law is irrelevant. He's still a millionaire, and he still didn't spend an extra 0.20/apple because he thought they were overpriced.

        2) My dad has 3 million in semi-liquid investments, but neither of us considers him to be rolling in dough. It has to last him the rest of his life (10 years), cover a large chunk of his health care costs, he's relatively immobile, and will have to change his living arrangements soon, which might mean moving out of the NYC region. He also wants to have something left for my siblings, who will need that money too.

        Oddly enough, I'm pretty stubborn about that too. I hate the price of a loaf of bread in NYC. I usually get it when I visit the 'burbs, when its actually cheaper (almost half price). Of course, if I were really financially savvy (and I'm not a millionaire), I probably wouldn't live in NYC. Also, I boycott Walmart, which ends up costing me dollars more, just because I don't like how they run their business.

        Perhaps its what makes these guys rich is not looking at every opportunity to save money, but to be individualistic enough to make sharp investments and follow their gut feelings.
    • insomniac8400, on 10/10/2007, -2/+1aka Rmeyers if a ***** retard.
  • quattros, on 10/10/2007, -11/+42It never ceases to amaze me how gullible people are, how did this even get close to the front page…

    It’s not true, no bank would ever physically hold collateral when they can simply put a lien on the title.

    Wake up people, there is no need to perpetuate these urban legends.
    • DarkPrince11, on 10/10/2007, -5/+28I'm pretty sure everyone knows its a joke.
      • grumpyrain, on 10/10/2007, -0/+10Not quite everyone from the sounds of it.
    • leathersleeves, on 10/10/2007, -0/+4someone get snopes.com on the case
    • byrdgang, on 10/10/2007, -2/+0Your really smart, genoius.

      /sarcasm
      • desistere, on 10/10/2007, -0/+3Ever get the feeling that Digg is full of idiots pointing at other idiots?
        *points at byrdgang* Haha! You can't spell or tell the difference between "you're" and "your". Oooh, do me, do me!
        • Rhythmicidea, on 10/10/2007, -0/+2Not to mention he misspelled genius, even though there is a check spelling button at the bottom...
  • snookums, on 10/10/2007, -3/+58Urban legend. No rich person would do this. The paperwork would be a huge waste of time plus the bank would never approve a loan where they stood to make nothing. They'd lose money on the filing. This is a cute story, but it's just that. A story.
    • jcaino, on 10/10/2007, -1/+2not too mention that they'd probably leave the ferrari parked IN THEIR GARAGE. you know, at the big f'n mansion they have. i'm sure they would be chauffeured to the airport.
    • netant, on 10/10/2007, -2/+1So, you're saying rich people do not have a sense of humor? I've seen lots of people do goofy stunts just because it was amusing.

      Banks approve many small loans with lousy returns if it establishes or maintains a relationship with a potential lender that would make MEGA millions. I would not even be shocked if they arranged the car to be taken care of from the bank's pocket.
  • 3drage, on 10/10/2007, -1/+29Considering that loans cost a good $80 - $200 in fees, I'd have to say this is an urban legend.
    • Lennalf, on 10/10/2007, -2/+2That figure is arbitrary and inaccurate. Many personal loans involve no fees whatsoever. Think about revolving credit like personal lines of credit and credit cards, for both of which you only pay interest. Yes, some loans, like mortgages, involve fees that are essentially unavoidable. Did you just pull 80-200 out of your ass?
  • JDoorjam, on 10/10/2007, -1/+12Does Wordpress actually host web pages? Because I don't think I've ever seen one that hadn't crashed.
    • Juaquin, on 10/10/2007, -1/+1Do you realize that Wordpress is software (actually, a bunch of scripts) and that as such it doesn't host anything? The problem isn't Wordpress, it's the servers that are running the person's particular instance of Wordpress.
  • RainDrizzleFog, on 10/10/2007, -1/+17A man walked into a bank in New York City one day and asked for the loan officer.
    He told the loan officer that he was going to Philippines on business for two weeks and needed to borrow $5,000. The bank officer told him that the bank would need some form of security for the loan.
    Then the man handed over the keys to a new Ferrari parked on the street in front of the bank. He produced the title and everything checked out The loan officer agreed to accept the car as collateral for the loan.The bank’s president and its officers all enjoyed a good laugh at the guy for using a $250,000 Ferrari as collateral against a $5,000 loan.
    An employee of the bank then drove the Ferrari into the bank’s underground garage and parked it there.Two weeks later, the guy returned, repaid the $5,000 and the interest, which came to $15.41.
    The loan officer said, “Sir, we are very happy to have had and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi millionaire. What puzzles us is, why would you bother to borrow “$5,000″.
    The millionaire replied: “Where else in New York City can I park my car for $15.41 and expect it to be there when I return”
  • SheilaNoya, on 10/10/2007, -3/+13Cute story - However, the real question is why in the hell would you even bother to own a car in New York City?
    • seanc6610, on 10/10/2007, -4/+1To drive around?
      PS: Not everyone who lives in nyc lives in manhattan.
    • Farmer77, on 10/10/2007, -0/+2Millionaires drive cars in Manhattan. I don't think they want to ride the train back to their Upper East Side apartment.
  • SD929, on 10/10/2007, -0/+5Loan fees.
    • aaron.dunlap, on 10/10/2007, -0/+1better yet, prepayment penalties. no way someone could just pay this thing off in two weeks and the bank only make 15 bucks. this story was funny though, when i heard in in 1992.
  • AzMegladon, on 10/10/2007, -1/+7Bank fees alone would void this story, lame.
    • netant, on 10/10/2007, -0/+1If the bank fee was $200, that would be $15.35/day. I'm not even sure a parking garage would accept liability for storing a $250,000 Ferrari for two weeks.

      Yeah, I know the story is an urban myth.
  • identifiedlogo, on 10/10/2007, -0/+6OLDDDDDDDDDDD
  • dustblaaze, on 10/10/2007, -0/+35If I were a millionaire, I would park my car at home and take a taxi to the airport. OMG I should be rich, my mind works like a millionaire!
    • fitzfan, on 10/10/2007, -0/+13i would walk, i must be a billionaire because that would be free
  • atbnet, on 10/10/2007, -0/+9If I were rich, I'd probably just drive disposable cars and give them to the homeless instead of parking. Then again if I were really rich, I'd probably just invent a jetpack.
    • netant, on 10/10/2007, -0/+7There might be an explanation for why you aren't rich.
  • T8erT0T, on 10/10/2007, -0/+11Your great grandfather called from his grave, he wants his joke back.
  • speedk0re, on 10/10/2007, -0/+1I was expected some OJ Simpson jokes after this, considering this joke predates the Internet (hell, probably computers altogether)
  • cryptomystic, on 10/10/2007, -0/+4How about just buying a limo and having your chauffeur drive you around?
    Doesn't seem too smart now huh?
    • netant, on 10/10/2007, -0/+1Ownership of a Ferrari (not including maintenance expenses) for two years: $250,000 / (2*365) = $345.46/day. If you guestimate only 50% depreciation in car value and sale after two years, cut the expense per day in half. I could be wrong, but I'd guess renting a limo would cost about that much per hour.

      Finding a bank willing to make that mythical arrangement for two week parking = ~$15/day.
  • ronjohn, on 10/10/2007, -6/+1EVEN IF this worked dont you think the cat is out of the bag by posting it. RETARDS. "STOP SNITCHING".
  • mortigon, on 10/10/2007, -0/+1Now I know where a Ferrari is parked!
  • dmbrooking, on 10/10/2007, -0/+4Are you guys who talk about fees and the amount paid in interest talking out of your ass?
    I have never had to pay any loan fees to take out a personal loan. And $15 on $5000 for two weeks is about 7.8% interest.... what's so nuts about that?
  • dcmproductions, on 10/10/2007, -0/+2Screw the taxi... Heck, the taxi from the bank to the airport alone would be triple that amount of interest...

    Nope... leave the Ferrari in the garage at home and take SuperShuttle for 15-20 bucks.

    Welcome to the Millionaires Club.
  • dgulbran, on 10/10/2007, -1/+8This just in! Diggers discover joke posted to blog to illustrate a point _can't actually be true_ because _real life doesn't work that way.

  • hitemup054, on 10/10/2007, -1/+8fake. giving your car as collateral does not mean the bank takes possession of it, it just means the bank gets put on the title as "lien holder". It would still belong to the guy and therefore he would still be responsible for finding a parking spot.
  • yujie, on 10/10/2007, -1/+2I park in nyc for free near my grandma's apartment on Norfolk street, Lower East Side. No meters on the street. Very hard to find meterless parking :)
    • sulliwan, on 10/10/2007, -0/+0Now park a ferrari there for 2 weeks and see if it stays there.
  • lostlosty, on 10/10/2007, -2/+1Loan fees? We don't have loan fees here in Canada.
  • KrazyA1pha, on 10/10/2007, -1/+2Let me help clear something up for those of you claiming that this couldn't happen because of the loan fees, etc.

    "Posted by Robin Bal under Humor , Lighter Side"

    It's a damn joke. Lighten up!
  • lonmoer, on 10/10/2007, -0/+2man has no one here ever heard of asking a friend to drive you to an airport?
  • databoy, on 10/10/2007, -3/+1Very old joke and the scenario does not work in the real business world. Banks are not stupid. A person with those assets would be signed up to a Visa Gold Card with a $20,000 credit limit. Executive car bays are at a premium. In real life, a bank would call a car transport company and put the vehicle in a vehicle storage compound. So you would have vehicle transport costs and storage costs on top of your bank loan set-up costs. The only truth in the article is that wealthy businessmen are frugal with their own money and use someone else's money. If the business goes under they declare bankruptcy.
    • netant, on 10/10/2007, -0/+2No, their corporation declares bankruptcy. Their shares in the corporation become worthless.
    • Jeeum, on 10/10/2007, -0/+1"The only truth in the article is that wealthy businessmen are frugal with their own money and use someone else's money."

      No, there is also "Humor , Lighter Side" written at the top.
  • tf9901, on 10/10/2007, -1/+2How much would it normally cost for 2 weeks of packing in NYC?
    • celeb, on 10/10/2007, -0/+3If you're in the outskirts of Manhattan figure at least $150.
    • desqjockey, on 10/10/2007, -1/+1In expensive parts of the city it can be $30+ an hour. I forget daily.
    • netant, on 10/10/2007, -0/+3Not sure. One or two hundred per day, I would imagine. Perhaps less if its a 2 week contract, but the garage wouldn't accept liability responsibility for the $250,000 car, or factor the insurance price in a higher rate. As one person said, probably hire a car transport company to arrange for storage, but I have no idea about their rates.
  • celeb, on 10/10/2007, -5/+2Over 31 days late douche....

    God I hate when people submit even though the same article has been posted. Dude, just digg up the original poster, even if it has
    • celeb, on 10/10/2007, -1/+2even if it has less than 10 diggs... apparently digg's comment system can't handle the less than and greater than symbols.

      Don't be a dupe douche
  • sealhands, on 10/10/2007, -1/+2 HAHAHA what a hilarious joke. someone should take that on the road. the funniest part is that a millionaire was on a road trip in his ferrari, then all of the sudden needed to go somewhere for 2 weeks. oh man silly millionaires. i guess buying a ferrari is being pennywise and frugal, great moral to the story. buried.
  • mhender, on 10/10/2007, -2/+1Where do you park a car for $16 for two weeks?
    Oh, I don't know, your own garage? Perhaps?
  • knobtwiddler, on 10/10/2007, -2/+3um NO
    the rich stay rich because of USERY, ie making money off money. returns on investments. interest. inheritance.

    what a crock. this story is total *****. if you're a millionaire in new york with a ferrari, you have a parking space already. you take limo or a shuttle to the airport. you dont need to waste your valuable time running some scam for parking... lol
    bury
  • knobtwiddler, on 10/10/2007, -1/+3and my god.. this is ***** on so many levels. "How a Millionaire’s Brain Works…" as if its a physiological trait, being a millionaire. this is just sick. ... see my above post for the real reasons why the rich stay rich.
  • WaltDismal, on 10/10/2007, -0/+2Hey mon. I park your expensive cah for two weeks for only $12.00. Gimme de keys, mon.
  • DeFex, on 10/10/2007, -1/+2problem with the story is it says millionaires are penny wise, but he bought a FERRARI. that is a huge waste of money.
    • desqjockey, on 10/10/2007, -0/+1Driving a ferrari is the most fun thing I have ever done, the few times I have been lucky enough to do it. If you have the means I highly recommend it.
      Its all priorities.
  • desqjockey, on 10/10/2007, -0/+1Ideas like this are mostly bad. If you are doing something that makes you millions of dollars (as opposed to the occupation of "being a millionaire") worrying about crap like this is simply not nearly worth your time. Filling out loan applications is not fun, they are long and tedious and involve giving them all of your personal information.
    Actually, this is a crap story. How does this get him to the airport? What is he taking a loan from the currency exchange bank in the terminal? And what kind of bank has a lot for cars- are you really going to the outer boroughs and taking the bus over? Im confused.


    • desqjockey, on 10/10/2007, -0/+1I know its a joke or a morality, I just like how cheeseball stories like this get repeated foever even though they dont make sense when you think about any element of them for more than a second. I bet this started out completely different and somehow involved a horse.
  • MisterKris, on 10/10/2007, -0/+0this was poopy. I was hoping it was gonna ne somthing useful.
  • andrewpmk, on 10/10/2007, -0/+1This is ridiculous. If you want to save on parking, just take the subway.
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