Great Wall offers £1 deposit to tempt buyers

Chinese brand Great Wall has launched a £1 deposit offer on its Steed pick-up, in the hope of tempting new buyers.

The brand, newly-arrived on the UK market, expects the offer to be particularly appealing to small businesses who don’t want a large up-front outlay.

The entry-level Steed S model, priced at £13,998 and dubbed by its creators as the UK’s most affordable double-cab pick-up, will be offered with a deposit of £1 followed by 59 monthly payments of £285.06, and a final payment of £424.06 (8.8 per cent representative APR).

Great Wall says the plan is available for business users only, through all 45 dealerships in the network, and continues until 30th September.

The Steed is powered by a newly-developed 2.0-litre, 16-valve turbocharged diesel engine, offering 34mpg fuel consumption. Great Wall says that both this and the insurance ratings – 7A for the Steed S and 8A for the range-topping Steed SE – are best in class.

The Steed comes with on-demand all-wheel-drive and offers a maximum payload of 1,050kg. Towing capability is 2,000kg with a braked trailer and 750kg unbraked.

Great Wall Managing Director Paul Hegarty believes the deal will prove attractive. “In the current economic climate, paying out thousands for a deposit on a new vehicle sometimes just isn’t possible, particularly for small businesses,” he says.

Words by: Andrew Charman