Geely EX5 vs Skoda Elroq: which one offers the best value for money?

Choosing between two electric SUVs, including a newer Chinese model? We compare equipment, pricing and new, used and lease deals to see which offers better value.

Chinese car brands are becoming an increasingly popular choice for family SUV buyers, and the Geely EX5 is a strong contender. But when you put it up against a comparable European model such as the Skoda Elroq, you may wonder which one offers the better overall value.

To find out, we’ve compared the Geely EX5 and Skoda Elroq on equipment, pricing and the latest new, used and lease deals to help you decide which electric SUV is the smarter choice.

To keep things like-for-like, we’ve based this comparison on the top trim level of each car: the Ultra version of the EX5 and the Sportline version of the Elroq. The EX5 example we used comes with a 68kWh battery, while the Elroq has a 61kWh battery. As the most expensive versions available, these trims give you a clear picture of everything each car has to offer.

Remember, you can buy a brand new or used car right here on Carwow. And you can sell your car, too. We’re here to help you through every step of your car-changing journey.

Which has better equipment?

First up, let’s compare their range and equipment when you buy them new. Both cars come with plenty of standard kit, but which one gives you more for your money?

Here’s how the electric range compares as well as some of the major equipment in their highest-specced versions at a glance:

Geely EX5 Ultra	Skoda Elroq Sportline
280 miles of range 68kWh battery Wireless Apple CarPlay and Android Auto 12.8-inch touchscreen Wireless charging 16 speaker FlyMe sound premium audio system including 2 headrest speakers Adaptive and intelligent cruise control Blind spot detection 360-degree topview surround parking vision with transparent chassis Front and rear parking sensors 19-inch alloy wheels	265 miles of range 61kWh battery Wireless Apple CarPlay and Android Auto 13.0-inch touchscreen Wireless charging 8 speakers Predictive adaptive cruise control with traffic jam assist Customisable driving modes Blind spot detection Rear-view camera Front and rear parking sensors Sports suspension with progressive steering Sports seats 20-inch alloy wheels

Buying new

Now that’s clear, let’s start by looking at the cost of buying both cars. As you’re more likely to finance your car than buy it outright, we’ll use PCP finance for our next set of calculations. This flexible car finance option covers much of the car’s expected depreciation through monthly payments, rather than requiring you to pay the full purchase price.

Using Geely and Skoda’s own websites, we’ve assumed a three-year term, annual mileage of 10,000 miles and a £5,000 deposit. We’ve also assumed that you hand the car back to the finance company at the end of the agreement.

At the time of writing, both the EX5 and Elroq are available with 0% APR finance. When we entered our chosen terms into each manufacturer’s finance calculator, the required customer deposit was adjusted to meet the conditions of the respective interest-free finance offers.

Geely is also offering a £3,500 finance deposit contribution on the EX5 Ultra, which further reduces the amount you need to pay upfront.

Here’s a breakdown of all the costs you can expect:

	Geely EX5 Ultra	Skoda Elroq Sportline
Car’s list price	£38,990	£37,820
Initial deposit	£4,999.95	£5,000.05
Manufacturer deposit contribution	£3,500	£0
Regular monthly payments	£456.03	£469.61
Total cost to PCP if you return the car	£20,961	£21,436.40

If you want to keep the car, there’s an optional final payment of £14,529 for the EX5 and £16,383.60 for the Elroq.

The figures above show that it’s cheaper to buy the EX5 than the Elroq on the same finance terms and annual mileage. That’s because of the £3,500 manufacturer deposit contribution offered by Geely, which reduces the amount you need to finance and doesn’t have to be repaid to the finance company.

This is a good reminder that it’s always worth checking for interest-free finance and manufacturer deposit contribution incentives when comparing deals, as they can make a significant difference to the overall cost.

Looking to save even more? It’s worth checking out the latest Carwow deals. Right now, you can get more than £4,400 off the Geely EX5 Ultra, while the Skoda Elroq Sportline has more than £4,800 off.

Buying used

Buying used is another option to consider. We compared the two models on Carwow to see which worked out cheapest.

At the time of writing, there were no used EX5 Ultra models listed on the platform, so we used a Max trim instead, which sits below the Ultra in the range. For the Elroq, we used an Edition model, which is also one trim below the top-spec version. This gives us the closest like-for-like comparison based on the used cars available.

We found two used examples from 2026 that already have over 3,000 miles on the clock, and here’s how much they cost:

	Geely EX5 Max	Skoda Elroq Edition
Existing mileage	3,471 miles	3,697 miles
Used price	£25,995	£31,804

This shows that a used EX5 is still around £5,800 cheaper than a used Elroq from the same year. That said, we found a 2025 example of the Skoda Elroq with just 3,115 miles on the clock for £22,599. So, it’s always worth shopping around for older models if you’re looking to save money.

It’s worth noting that the Elroq has been on sale in the UK for longer than the EX5. The Elroq arrived in October 2024, while the EX5 went on sale in October 2025. This means there are currently more used Elroq models on the market, giving you a better chance of finding a bargain.

Also remember that used-car prices and availability change all the time, so you may find an even better deal if you shop around at the right time.

Leasing

Finally, there’s leasing. As with the PCP deals, we’ve assumed a three-year lease, 10,000 miles per year and a 12-month initial payment. The figures are based on the same versions we used for our PCP calculations: an EX5 Ultra with a 68kWh battery and an Elroq Sportline with a 61kWh battery.

Here are some leasing deals available on Carwow at the time of writing and how they stack up against each other:

	Geely EX5 Ultra	Skoda Elroq Sportline
Monthly payment	£341.17	£326.76
Initial payment	£4,442.04	£4,216.12
Total cost	£16,382.99	£15,652.72

These deals show that you could save over £730 by leasing the Elroq over three years compared with the equivalent EX5. You’ll also pay around £220 less upfront and around £15 less per month. It shows that it’s worth considering leasing alongside PCP when looking for the best deal.

So, which one is the best value?

Ultimately, it depends on how you want to pay for and run the car. The Geely EX5 offers better value if you’re buying through PCP finance, thanks to its dealer contribution, while the Skoda Elroq is cheaper to lease.

However, the EX5 could also be the better-value option on the used market, particularly if you can find a 26-plate example at a competitive price. It’s always worth comparing different deals and considering which car’s equipment and features best suit your needs.

Car change? Carwow!

Looking for a new set of wheels? With Carwow you can sell your car quickly and for a fair price – as well as find great offers on your next one. Whether you’re looking to buy a car brand new, are after something used or you want to explore car leasing options, Carwow is your one stop shop for new car deals.

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