How to buy a cheap PS5 console for under $400 in May 2026

PS5 prices are rising as gamers prepare for Grand Theft Auto 6. Finding a console for under $400 is now harder than it was last year.
By Newsroom | Technology, Gaming |

The pursuit of a PlayStation 5 console at or below the $400 mark appears to be entering a critical phase, with reports indicating diminishing availability of certain models as the highly anticipated release of 'Grand Theft Auto 6' looms. Retailers, including major players like GameStop, Target, and Best Buy, are reportedly experiencing a scarcity of PS5 Pro consoles.

==This tightening supply suggests a potential final window for consumers seeking a more budget-friendly entry into the current generation of gaming before the massive launch of GTA 6.==

Several avenues for securing a PS5 under the $400 threshold have emerged:

  • Refurbished Options: Some outlets are offering refurbished PS5 consoles, often including a 12-month manufacturer's warranty. While specific models, like the digital-only version, may not always be available, a selection of three refurbished PS5 units has been noted at significant discounts.

  • Trade-In Programs: In a bid to soften the blow of increased prices for newer models, some retailers, such as Micromania, are implementing aggressive trade-in programs for older consoles. This can effectively reduce the cost of a new PS5 significantly, potentially halving the price of a PS5 Pro under specific, albeit strict, conditions.

  • Used Marketplaces: Platforms like Rakuten and LeBonCoin are highlighted as dynamic marketplaces for second-hand PS5 consoles. For those venturing into peer-to-peer sales, emphasis is placed on verifying the console's condition in person and understanding the varying warranty policies across different selling platforms. Offers for PS5 Slim models with CD drives, some under warranty, have been listed around the €380 mark.

Background:The push for console acquisition comes at a time when Sony has officially increased the price of the PS5, a move that has seemingly triggered a scramble among buyers and sellers. Despite the price hike, some specific bundles, like the 'Fortnite Flowering Chaos PS5 Bundle', have been observed lingering at older sale prices on PlayStation Direct, though availability is notably scarce. Concerns have also been raised regarding the performance of upcoming graphically intensive games, such as GTA 6 and potentially 'Marvel's Wolverine', on less powerful hardware. The staggered release of these high-profile titles, with no immediate PC or Switch 2 ports announced, further fuels the demand for current-generation consoles.

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Frequently Asked Questions

Q: Why is it hard to find a PS5 for under $400 on 23 May 2026?
Sony recently increased the official price of the PS5, and stores are running out of stock. Many people are buying consoles now because they want to be ready for the release of Grand Theft Auto 6.
Q: Where can I find a cheap PS5 right now?
You can look for refurbished consoles at major stores or use trade-in programs to lower the price. Websites like Rakuten and LeBonCoin also have used consoles, with some Slim models selling for around €380.
Q: Should I buy a used PS5 from a person instead of a store?
Buying from a person is cheaper, but you must be careful. Always check the console in person to make sure it works and ask if there is still a warranty from the manufacturer.
Q: Will the price of the PS5 go down after GTA 6 comes out?
It is unlikely that prices will drop soon because demand is very high. Many players want a powerful console to play new, big games, which keeps the price of the PS5 high in stores.