Sony is offering up to $400 for used PS5 consoles, but there is a catch

Sony is offering PlayStation 5 owners up to $400 if they want to trade in their old consoles. The offer is likely aimed at gamers who no longer use their PS5 and are thinking about selling it. The amount is higher than what some retailers offer for second-hand consoles. However, there is a catch. To qualify for the full $400, users must trade in a PS5 Standard console along with at least two controllers, reports Notebookcheck. The console must also be in Grade 0 condition. The final amount will depend on the console model, its condition and the accessories included in the deal.

Sony offering PS5 trade-ins

Several users have shared details of the promotion on social media and online forums. The trade-in programme is being managed by Back Market. Sony partnered with the company in 2024 to help customers sell their old gaming hardware.

The company will check the console before deciding how much money the seller will receive. A PS5 with a disc drive may get a different price compared to the Digital Edition. The condition of the controllers and other accessories will also affect the final offer.

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Sony reportedly offers costumers up to $400 if they trade in their PS5. https://t.co/qcoYoA10CK https://t.co/zltUpwtmoI

— Knoebel (@Knoebelbroet) November 2, 2026

Is the $400 PS5 trade-in offer worth it?

The offer may look attractive to PS5 owners who no longer play games on their consoles. However, the requirement to include two controllers makes the deal less appealing for some users.

Selling the console privately can bring in more money. On eBay, a used PS5 model with a disc drive and one DualSense controller can sell for around $450 to $500, according to the report. However, sellers also have to pay platform fees and shipping charges. After these costs, the amount they receive may not be much higher than Sony’s $400 offer.

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Some major retailers are offering even less for used PS5 consoles. For instance, GameStop offers up to $275 in store credit for certain models. 

Sony’s trade-in offer comes at a time when buying a new PS5 has become more expensive. Meanwhile, Rockstar’s GTA 6 is expected to drive PS5 and Xbox sales ahead of its November 19 release. 

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