If you already own one of Sony’s many PS4 models, it’s time to start thinking about trading it in for a next-gen PS5. There are a few things you’ll want to consider before deciding to trade in your old console to get credit towards a PlayStation 5. But first, let’s take a look at exactly how you can trade in your PS4 and how much money you’ll get for the version you have.
Read more about the PS5:
- PS5 vs PS5 Digital Edition – Which console is better for you?
- The best upcoming PS5 games: Release dates, latest trailers, and more
Where and how to trade in your PS4 for a PS5
Here are all the places you can trade in your PS4. You will either receive a gift card or a credit towards the PS5, depending on which retailer you choose.
Walmart, Target, and Best Buy all seem to be offering a range of up to $90-150, depending on which version of the PS4 you have. They say “up to” X amount, so the actual trade-in value for your console could be a lot lower than the maximum. At the time of checking, Amazon had the best cash value with up to $175 for the PS4 Pro. Of course, all of these sites have an estimated appraisal tool that you can fill out. This way, you can see exactly how much your console would be worth at various retailers while you wait for the PS5 to restock.
GameStop has a seemingly more enticing trade-in program for the PS4. With two digital-only next-gen consoles coming out, GameStop needs to offer a hefty incentive to keep itself in business. As long as your console is in full working condition, you should receive the full value of the trade-in credit. It’ll be up to GameStop to deem what full working condition is, but you can hope for the best.
With GameStop’s trade-in credit program, you can receive a $200 credit towards the PS5 with a PS4 Pro trade-in; $150 credit with a 1TB PS4 Slim trade-in; or $100 credit with a 500GB PS4 Slim.
Should you trade in your PS4 for a PS5 or PS5 Digital?
Now that you know how to trade in your PS4 for a PS5 let’s tackle whether or not you should.
It all depends on whether you’re sentimental or what kind of PS4 games you own (physical or digital). If you’re a console collector, you’ll inevitably want to hang on to your PlayStation 4. But with the PS5’s backward compatibility with most PS4 games, you can play old titles on the PS5 to explore the enhanced, more immersive gaming experience.
On the other hand, if you own physical PS4 games and you’re planning to buy the PS5 Standard, it makes total sense to trade it in. You lessen the price of the next-gen console and walk away with a brilliant piece of hardware that can play your old PS4 games and your new PS5 titles. If you own physical PS4 games and you’re planning to buy the PS5 Digital, things get a bit trickier. If you get rid of your old console, you may as well get rid of your PlayStation 4 disks as well because you won’t be able to play them on the PS5 Digital. You can only play digitally owned copies of PS4 games on the new digital-only console.
If you never bothered with physical copies and want to upgrade to either the PS5 Standard or the PS5 Digital, that trade-in credit is worth it. Your games will go with you wherever your PlayStation account goes. Just make sure that you wait to trade your console in until the PS5 is actually in stock.