This story falls into the category of folklore—it is a tale that comes from the people, travels the world, and gradually changes. There is a New York version, a Jewish version, an Italian version, a Southern version, and a Texas version, which goes like this:
A Texas rancher walks into a bank in New York and asks for a $5,000 loan for one month.
The banker hesitates. He is unsure because he thinks the Texan looks like a typical country bumpkin and, frankly, rather poor. He decides to brush him off quickly.
“Do you have any collateral for the loan?” the banker asks.
The rancher replies, “Yeah, I’ve got that Ford F-250 parked across the street. It’s worth 70 grand, equipped the way it is.”
The banker rolls his eyes and says, “How much do you still owe on the vehicle?”
“Not a cent,” the rancher replies. “It’s paid off in full.”
The banker leans forward and changes his tone: “Well, sir, I see no reason why we couldn’t lend you $5,000. We could go as high as $40,000 if you wanted, over a longer term, of course.”
“No,” says the rancher, “$5,000 is enough. I only need it for a month.”
“Would you mind if I asked what you need the loan for?” the banker asks.
The rancher replies, “I came here from my little ranch near Abilene on business, and an unexpected opportunity suddenly came up—to fulfill a dream on my bucket list, fly to Spain, and maybe buy an Andalusian horse if I can afford it. I’m a little short on cash right now. I need some spending money.”
“That shouldn’t be a problem,” says the banker. “We can certainly help you.”
“Just one thing,” says the rancher: “Could we skip recording the lien on the title? I reckon getting a New York lien removed from a Texas title would be like herding cats.”
“You know what,” says the banker. “Just leave the vehicle with us as physical collateral and pick it up when you return.”
The rancher thinks it over for a moment and says, “Well, that’s a little unusual, but I reckon it’ll be all right.” He slides the keys across the desk to the banker.
Within 10 minutes, all the paperwork is complete, the banker gives the rancher $5,000 in cash, and the Texan flies to Spain.
A month later, the rancher returns to the bank and pays the banker $5,000 plus $28.22 in interest for one month.
The banker accompanies the rancher outside the bank to wait for his vehicle to be brought around from the garage. While they wait, he says, “Sir, while you were away, I ran a full credit check on you, just for fun. I found out that you’re quite wealthy. You have a large ranch, a lot of cattle, and interests in the oil and gas industry. You didn’t actually need the loan, did you?”
The rancher smiles and replies, “No, sir, I didn’t. Not exactly.”
“Would you mind if I asked why you took it out?” says the banker.
At that moment, the vehicle arrives from the bank’s garage. The rancher hops in and rolls down the window. He leans out toward the banker and says, “Where else could I park that big old F-250 in New York for a whole month for just 28 bucks?”
The rancher tips his hat. “Much obliged,” he says as he pulls away from the curb.
