Yes, a famous example being the election of 1521, featuring the famous rivalry between Charles V Habsburg (archduke of Austria, King of Castille, Aragon, Navarre, Naples, etc etc etc) and Francis I of France. While the Habsburg had held the HRE emperorship, Charles' father died young and his grandfather had not sufficient time to guarantee Charles' ascension before he too deceased.

Francis and Charles launched into a huge bidding war buying electors and their vote, and on Charles' side he took advantage of new world silver and Castille's revenue to guarantee majestically huge debts from the German Fuggers and Genoese bankers. This debt outlasted him, and together with debts to finance his many wars ended up burdening his son Philip II of Spain and beyond.