Those with old bangers will have to move fast to take advantage of the car scrappage scheme. The Government has said it definitely will not be extended beyond the end of this year. However, launching its Motorloan campaign for 1997/98 this week, Bank of Ireland said it anticipates that the ending of the scheme will not affect car sales in 1998.

Intriguingly, the bank says it believes that the car industry will receive a fill-up from the Budget in the form of a cut in vehicle registration tax. With interest rates remaining low, the bank expects car sales to remain strong next year, although it anticipates that much of the strength will be in used car sales.

Personal car finance will fund 166,000 car sales this year, the bank estimates. Bank of Ireland claims 20 per cent of this market and is wooing customers with goodies ranging from the chance to win five Toyota Corolla cars, free emergency assistance cover and flexible repayment options.