Wednesday, 11 March 2015

NYC: How to Beat the High Cost of Parking

I cannot imagine paying the exorbitant parking prices in some of North America's major cities! In many cases, it seems almost as bad as a second mortgage on your home.

Who can afford it?

I read the following little blurb online about a woman who figured a way to beat the system. Yes, it's humorous, and No, I'm sure it's not a true story. Still, it shows that if we're prepared to think out of the box, there's probably a cheaper way than the way we're doing things now.

So here's the story. Enjoy ...

A woman walks into a bank in NYC before going on vacation and asks for a $5000.00 loan. The banker asks her if there is anything she would like to use as collateral. The woman says, "Yes, of course. I'll use my Rolls Royce."

The banker is stunned and for confirmation asks, " A $250,000.00 Rolls Royce? Really?"

The woman is completely positive. She hands over the keys as the banker silently laughs at her. The banker checks her credentials, just to make sure that she is the title owner, and sure enough, everything checks out. The bank makes arrangements to have her Rolls Royce parked in their underground garage for two weeks.

Two weeks later, when the woman comes back from her vacation, she goes to the bank and pays off the $5000.00 loan and the $15.41 accrued interest.

The loans officer says, "Miss, we're really appreciative of your business with us, but I have one question for you: Why would a millionaire like yourself want to borrow $5000.00?"

The woman replied, "Where else in New York City could I park my car for two weeks and pay only $15.41, and expect to still find it there when I returned?"

Well there you have it. With thinking like that, perhaps that's one reason for the proverbial "The rich keep getting richer." Think out of the box. There's no telling where it will take you, or how much money you'll save in the process.

Photo Credit: Mike Troy, Flickr Creative Commons
Story Source: Unknown

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