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If you're in the U.S. and own a PlayStation 5 console, you may have received a notification in the PlayStation app about Sony's latest initiative to buy back used consoles through Back Market — a global online marketplace for refurbished electronics. The pair previously established a relationship in 2024, focused on PlayStation 4 trade-ins and trade-ups, and now participating users can get up to $400 in cash for trading in a used, excellent-condition standard PlayStation 5 with two controllers. This program runs only until December 31, 2026.

Given the timing and options, trading your used PlayStation 5 console is not terrible value. Additionally, it gives gamers enough time to access a more affordable used market to play Grand Theft Auto VI, releasing on November 19, 2026. Plus, one major concern is that upgrading to the PlayStation 5 Pro has been more challenging than ever because of pricing; we reported in October 2026 that units were costing around $1,400 to $1,500 pre-owned .…