How to trade in your PS4 for a PS5

Having both consoles at the same time is also helpful in transferring your data from your PS4 to your PS5. When setting up your PS5, you can connect it to your PS4 via an ethernet cable to quickly transfer your saved data to your PS5. Otherwise, to continue playing your games where you left off on your new console, you will have to perform a data transfer using the PS Plus could storage or an external USB drive.

The best PS4 trade-in deals for a PS5

Many electronic retailers will take your PS4 in exchange for gift cards or in-store credit towards a PS5. Here are the best trade-in deals to upgrade to Sony’s next-generation gaming console right now.

GameStop tends to have the most enticing trade-in programs for the PS4. As more consoles and services go digital, the video game retailer needs to offer hefty incentives to keep themselves in business.

From  Aug 1rst to Aug 28, 2022, you can get an additional $50 trade-in credit on select PS4 models. Here’s how much trade-in credit you can get towards a PS5 depending on your PS4 console:

• PS4 SLIM 500GB — $250
• PS4 SLIM 1TB — $250
• PS4 PRO 1TB — $300

As long as your console is in full working condition with one PS4 controller and the power cable, you’re good to go. Combined with GameStop’s recent restock in PS5 bundles, this is the prime window of opportunity to upgrade your consoles.

Other options

BestBuy is the second-best bang for your buck when trading in gaming consoles. For example, you can get $200 for a PS4 Pro 1Tb system compared to just $175 at Amazon or $165 at Walmart for the same console. With Amazon, you can ship your PS4 console to them for free. In contrast, you can drop off your PS4 in-store at your local Walmart or BestBuy.

Each website has an estimated appraisal tool that you can fill out. Simply select which version of the PS4 you have and its condition to see a corresponding trade-in value. This way, you can check exactly how much your console is worth at various retailers while you wait for the PS5 to restock.

Now that you have a plan to part with your PS4, what kind of PS5 should you get? While the digital version is cheaper, the disc version does have its benefits.

It all depends on whether your library of PS4 games is primarily physical or digital. If mostly physical, you may want to opt for the disc-version of the PS5 since it is backwards compatible. You can pop your PS4 discs into your PS5 and experience improved and enhanced graphics and mechanics on nearly all of your old favorites. If you collect 4K movies, you can also play them on a PS5.

Related: PS5 vs. PS5 Digital: Which console is better for you?

On the other hand, if most of your PS4 games are digital, you might as well get the cheaper PS5. Any games you bought from the PS Store will be ready to download on your PS5 when you sign in with the same PSN account. You can then trade in any physical PS4 games you are willing to part with for some extra cash. If you are a PS Plus subscriber, many hit PS4 titles are available digitally as part of the PS Plus Collection exclusive to PS5 owners, so you might as well trade in any physical duplicates.

You’ll find great deals on the PS Store and other retailers when buying new games. However, stores like GameStop tend to offer better deals, especially on used games and when buying in bulk. So, in the long run, you may make your money back on the more expensive disc-enabled PS5 when buying discounted PS5 games from retailers. But if you plan to purchase new games on day one, it really doesn’t matter which console you choose.