An initiative to give consumers a greater chance of buying a new car has been proposed by the AA. The body has suggested to the government that a scrappage scheme be introduced, rewarding owners of old, polluting vehicles for getting rid of them. Director of AA Personal Loans Mark Huggins explained that providing a £2,000 discount on a new or nearly-new car for those who scrap their old one, would make obtaining unsecured loans for vehicle purchase easier. "The proposal ticks all the right boxes," he said, adding: "I believe it would be a popular move and would allow many families to buy their first brand new car." In addition, Mr Huggins noted that the environment would benefit as a result of reduced emissions. Meanwhile, Sainsbury's has revealed that the value of unsecured loans taken out for the purpose of making home improvements increased by 22 per cent last year.
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