Bank financing an EV in Denmark becomes a little easier
The Danish bank ‘Merkur Andelskasse’ is saying “no” to financing new petrol and diesel cars. Instead, the financial institution claims it offers the best interest rates for electric cars in Denmark.
Future demand is definitely something the company is anticipating and positioning themselves for, even if the market is still slowly picking up there. The move will likely also strengthen the EV market, which will help hasten the return on investment.
Denmark is taking a rather conservative approach to electrification in order not to waste resources by eliminating the current vehicle stock. In 2019, EVs made up 2.4% of the Danish vehicles on roads, but in 2021, public transport in major cities will be electrified, followed by the complete phase-out of gasoline and diesel vehicles in 2030.
“Together with our customers, we will always take the lead in the most sustainable development. Our goal is to push for development constantly. We do this now by saying ‘no’ to financing new gasoline and diesel cars,” said CEO Charlotte Skovgaard. “We understand that this may not be as well received and popular with everyone and that it may cost customers in the short term.”