A Loan Drone

(An older gentleman comes in to make the final payment on his car loan. I process his payment and let him know what to expect regarding his title.)

Me: “Thank you, sir. We will contact the DMV to let them know that the loan is now paid in full, and the loan will be released. Your title-work will come directly from the DMV, and can take anywhere from three to six weeks.”

Customer: “That’s right, honey, because your bank’s name is on the title to make sure that I pay the loan back. If I don’t pay the money, then the bank can take back the car.”

(At that point, I’m not sure if he is asking me for clarification, or if he is trying to mansplain the lending process to someone who has been in the business for twelve years. I assume the best and confirm.)

Me: “Exactly, but you won’t have to worry about that anymore, now that your loan is all paid off.”

Customer: “You see, honey, when your bank holds the title on the car, it’s called collateral.”

(Now I know he is definitely being patronizing, so I just want to get rid of him.)

Me: “Ooh! I had always wondered about that. Now, you have a nice day, sir.”