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Autor:innen: 
Erscheinungsjahr: 
2026
Schriftenreihe/Nr.: 
SAFE Working Paper No. 471
Verlag: 
Leibniz Institute for Financial Research SAFE, Frankfurt a. M.
Zusammenfassung: 
I study the credit channel of the electric-vehicle (EV) transition using more than 1.8 million German auto loans and leases. I show that EV financing contracts default significantly less often than comparable internal combustion engine vehicle (ICEV) contracts-particularly among lower-income borrowers. Following the 2020 expansion of German federal EV subsidies, lenders adjusted EV financing relative to comparable ICEV contracts. Independent banks tightened EV loan terms while lending to lower-income borrowers. Captive banks also tightened EV loans, mainly through non-price terms, while accommodating subsidy-period EV demand more readily through leasing.
Schlagwörter: 
Electric vehicles
Auto loans
Auto leasing
Captive banks
Credit risk
JEL: 
G21
G23
G50
Dokumentart: 
Working Paper

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