Is Trading In Your Old Console Worth It? I Did the Math Three Ways
Trade-in credit, selling it yourself, or keeping it for the kids. I compared all three for a last-gen console and the answer depends on how much hassle you'll tolerate.
Grab the deal
When I upgraded consoles this year, I had an old one sitting under the TV. I could trade it in, sell it online or keep it. I ran the numbers and the hassle for all three.
Option 1: Store trade-in
Easiest by far. Walk in, hand it over, get store credit or cash. Store credit is usually higher than cash, and promotions sometimes add a bonus percentage on top.
**Pros:** Ten minutes, no strangers, no shipping. **Cons:** You'll get less than selling privately, usually noticeably less.
Option 2: Selling it yourself
Online marketplaces or local listings typically get you the most money. Bundle it with a controller and a few games and it sells faster.
**Pros:** Highest return. **Cons:** Messages from people asking "is this still available" and then vanishing. Meeting strangers. Shipping risk. Fees on some platforms.
Option 3: Keep it
If you have kids, a second TV or friends who visit, a second console is surprisingly useful. Old consoles also hold value poorly over time, so keeping it costs you a little resale value each year.
My actual numbers
For my last-gen console with one controller:
- Trade-in in cash: the lowest
- Trade-in in store credit during a bonus promotion: around 20 percent more than cash
- Selling myself: around 30 to 40 percent more than cash trade-in, minus two weekends of messages
I went with store credit during a promotion. The extra money from selling myself wasn't worth the hassle.
How to get more for your console
- Clean it. Dust and grime make it look worse than it is.
- Include the original box if you still have it.
- Wipe your account and data before handing it over. Always.
- Time it before a new model launches, when demand for older consoles hasn't dropped yet.
Where to compare
GameStop is the main trade-in option and runs bonus credit promotions regularly. Walmart, Target and Amazon sell refurbished and renewed consoles, which helps you see what your old one is worth on the resale market.
Verdict
If you hate hassle, trade in for store credit during a promotion. If you want the most money, sell it yourself and accept the annoying messages. Either way, wipe your data first.
Grab the deal
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