A Chinese man walks into a bank in New York City and asks for the loan officer. He tells the loan officer that he is going to China on business for two weeks and needs to borrow $5,000.
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 of his 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 its officers all enjoy a good laugh at the Chinese man for using a $250,000 Ferrari as collateral against a $5,000 loan. An employee of the bank 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 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 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?”
Look at predicted depreciation on the car, add into that the cost of storage and the cost of getting someone to turn it ver once a month. That is how much money you will be losing for nowt.
Sell it, tuck the money away for when you get back and buy a newer one.
Already posted in motoring section but might get some ideas in here...
I'm off overseas for a couple of years, but don't want to sell the car.
Does anybody have any suggestions of camps with spare garages, where I might be able to store it for 2/3 years?
Or any other bright ideas? I've looked online but the cheapest I can find is £50 a month. I know that's good value (most are £80+ per month), but even £1200-1800 over 2-3 years is a lot of money down the drain...
I am reluctant to sell it because it's in great nick, paid for, low mileage etc. 2004 but only about 24,000 miles.
Should I just sell it or is there a cheap storage option?
when i went to the falklands for 7 months i hired a shipping container in a storage facility near bristol and simply drove my car in and disconnected the battery - fitted no problem at all and it was dry and clean