He told the loan officer that he was going to Paris for an international rodeo for two weeks and needed to borrow $5,000 and that he was not a depositor of the bank.

The bank officer told him that the bank would need some form of security for the loan, so the Cowboy handed over the keys to a new Ferrari. The car was parked on the street in front of the bank. The Cowboy produced the title and everything checked out.

The loan officer agreed to hold the car as collateral for the loan and apologized for having to charge 12% interest. An employee of the bank then drove the Ferrari into the bank's private underground garage and parked it.

Later, the bank's president and its officers all enjoyed a good laugh at the Cowboy from Idaho for using a $250,000 Ferrari as collateral for a $5,000 loan.

Two weeks later, the Cowboy returned, repaid the $5,000 and the interest of $23.07.

The loan officer said, "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 on Dunn & Bradstreet and found that you are a highly sophisticated investor and multimillionaire with real estate and financial interests all over the world."

"What puzzles us is—why would you bother to borrow $5,000?"

The good ol' Idaho boy replied, "Where else in New York City can I park my car for two weeks for only $23.07 and expect it to be there when I return?"