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What is a Good Price for a PlayStation 5 (PS5)? Your Comprehensive Guide

A good price for a PlayStation 5 (PS5) in 2024, considering market availability and new models, depends on whether you’re buying new or used, and which version you’re after.

New PS5 (Disc Edition): Aim for the Manufacturer’s Suggested Retail Price (MSRP) of $499. Anything above this should be avoided unless it includes desirable bundles.
New PS5 Digital Edition: The MSRP is $399. Similar to the disc version, stick to this price point.
New PS5 Slim (Disc Edition): The MSRP is $499, it might fluctuate a little depending on retailer offers.
New PS5 Slim (Digital Edition): The MSRP is $449, but remember you will also need to purchase a disk drive, if you want to use physical games.
Used PS5 (Disc Edition): Expect to pay between $300 and $400 for a console in good condition with all accessories.
Used PS5 Digital Edition: A fair price would be between $250 and $350, depending on condition and included accessories.
Used PS5 Slim (Disc Edition): These are still fairly new, so expect to pay near the new price of $450-$475.
Used PS5 Slim (Digital Edition): Similar to the disc version, these are still fairly new, so expect to pay near the new price of $400-$425.

The key is to monitor online marketplaces, compare prices, and be patient. The days of inflated reseller prices are largely over, so there’s no need to overpay for a PS5 in the current market.

Frequently Asked Questions (FAQs) About PS5 Pricing

Is it worth buying a PS5 in 2024?

Absolutely! With a growing library of exclusive games, enhanced performance, and innovative features like the DualSense controller, the PS5 offers a next-gen gaming experience that’s well worth the investment. The increased availability also makes it easier and more affordable to get your hands on one. Plus, if you are interested in educational games, the PS5 is a fantastic device. More on games and the learning society at Games Learning Society.

What is the difference between the PS5 and PS5 Digital Edition?

The main difference is the absence of a disc drive in the Digital Edition. This means you can only play games purchased and downloaded from the PlayStation Store. The standard PS5 can play both physical and digital games.

How much storage does the PS5 have, and how many games can it hold?

The PS5 comes with an 825GB SSD, but only about 667GB is usable. The number of games you can store depends on their size. AAA titles can take up 50GB to 100GB or more. Realistically, you can store 10-15 games at a time, but you can also expand the storage with a compatible NVMe SSD.

Is the PS5 backward compatible with PS4 games?

Yes, the PS5 is backward compatible with the vast majority of PS4 games. This is a great advantage as it allows you to enjoy your old game library on the new console, often with improved performance and visuals.

What are the best ways to find a PS5 at MSRP?

Check major retailers regularly: Sites like Amazon, Best Buy, Walmart, and Target often have restocks.
Sign up for email alerts: Many retailers offer email notifications when the PS5 is back in stock.
Follow social media accounts: Some accounts specialize in tracking console restocks and announce them as soon as they happen.
Consider bundles: Retailers sometimes offer bundles that include games and accessories. These might be slightly more expensive, but can be a good deal if you want the included items.

Should I buy a used PS5?

Buying a used PS5 can be a cost-effective option, but it’s important to exercise caution:

Check the seller’s reputation: Read reviews and feedback before making a purchase.
Ask for photos and videos: Inspect the console’s condition thoroughly.
Test the console: If possible, test the console before buying it. Check that all features are working properly.
Negotiate the price: Don’t be afraid to negotiate.

What is the PS5 Slim, and how does it compare to the original PS5?

The PS5 Slim is a refreshed version of the original PS5. It’s smaller and lighter, but offers the same performance. There are two versions: a standard model with a disc drive and a Digital Edition. The Digital Edition can have the disc drive added later as an optional purchase.

Is the PS5 Pro coming out soon?

Rumors about a PS5 Pro are circulating, but there’s no official release date yet. It’s speculated it could be released in late 2024. If you can wait, it might be worth holding out for the Pro, which is expected to offer significantly enhanced performance and graphics.

What is the lifespan of a PS5?

The typical lifespan of a gaming console is 5-7 years. Sony usually supports its consoles with new games and software updates for several years after their release.

How does the PS5 compare to the Xbox Series X?

The PS5 and Xbox Series X are both powerful next-gen consoles. They offer similar performance and features, but there are some key differences:

Exclusive Games: PS5 has a strong lineup of exclusive titles.
Controller: The PS5’s DualSense controller offers unique features.
Game Pass: Xbox Series X has the Game Pass subscription service, which provides access to a vast library of games.

What accessories should I buy for my PS5?

Extra Controller: A second DualSense controller is great for multiplayer games.
Headset: A gaming headset enhances the audio experience and allows for clear communication with other players.
Charging Station: A charging station keeps your controllers charged and organized.
NVMe SSD: Expanding the storage with an NVMe SSD allows you to store more games.
Media Remote: A media remote makes it easier to navigate streaming apps.

Can I play Blu-ray movies on the PS5?

Yes, the standard PS5 (with the disc drive) can play Blu-ray movies, including 4K Ultra HD Blu-rays. The PS5 Digital Edition cannot play physical Blu-ray movies.

Does the PS5 require a subscription for online multiplayer?

Yes, you need a PlayStation Plus subscription to play most online multiplayer games on the PS5. However, some free-to-play games do not require a subscription.

What resolution and refresh rate does the PS5 support?

The PS5 supports up to 8K resolution at 60Hz, and 4K resolution at 120Hz with HDMI 2.1. The actual resolution and refresh rate will depend on your TV or monitor.

Are there any known issues with the PS5?

While the PS5 is generally reliable, some users have reported issues such as:

Software Glitches: These are usually fixed with software updates.
Controller Drift: This can be resolved by contacting Sony support.
Overheating: Make sure the console is well-ventilated.

By staying informed and doing your research, you can secure a great deal on your new PlayStation 5 and embark on an incredible gaming journey.

What is a good price for PlayStation 5?