Saturday, March 11, 2006

Looks rich- but is poor as

I read about this guy's misfortune to be saddled with an idiot brother-in-law.

Read the guy's sad but funny story here.

Here's the summary:
"Cowdunk's" brother-in-law buys a Honda Integra Type R for about S$120,000- that's US $90,000 - due to Singapore's road taxes. For the uninitiated, it's just a 2-door Honda. However, back then the brother in law only earns about $2500 gross. After deducting for the govt superannuation, he takes home about $2000. But his loan for the car was $1500. His annual insurance was about $5000. His loan to the bank was rejected back then. So he turns to "cowdunk" and actually ask him to help by being his GUARANTOR.

"Cowdunk's" sister- the bro-in-laws then girlfriend was also helping with the car financing.

Fast forward a few years and late last year, bro-in-law buys a new dog. It's one of those expensive looking dogs imported from Australia. "Cowdunk", bemused, doesn't know the pedigree of the dog. To him, a dog is a dog. Just like vegetables are vegetables. Bro-in-law claimed to spend about $4000 to bring in the dog. It's one of those dogs that people will walk them around expensive blue-chip estates to show off. But the bro-in-law lives in public housing. Of course, again he ask cowdunk to be the "legal owner" as under govt public housing regulations, he is not supposed to keep that kind of dog.

Bro-in-law then decides to sell his $90 grand car. With car prices plunging lately, he decided that it makes dollar sense to change his car. Seems good but then... he places a booking for a $100,000 SUBARA WRX sportscar. He also takes the weekend to choose a nice number for his car, thus paying $1000 to bid for it. Well, that is what rich people do sometimes. Buy a performance car and bid for unique number.

Anyway, yesterday the dude calls up cowdunk again. He only just about received 2 calls from him in the last 4 years. Both on the same topic. You guessed it. His loan is rejected and so he needs someone to be his guarantor.

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