Renting a PS5 is becoming a massively popular option as prices increase

As the price of the PS5 continues to rise in various markets, renting the current-gen console has become an increasingly popular option.
Halfway through the console generation, rather than prices steadily decreasing as the technology becomes outdated, costs have actually risen this generation. Just last week, Sony announced the PS5 would be going up in price across four major markets.
This comes on the back of price hikes in other regions throughout 2024, not to mention the ever-climbing cost of PlayStation Plus.
As a result of the luxury hobby growing more expensive, some are now turning to alternative methods in order to get their fix. Owning the console outright is one thing, but it turns out, in certain regions, renting a PS5 is becoming far more popular than you may have thought.
Renting a PS5 has become a popular option as prices soar
Back in September, 2024, Japan was among the first markets to be slapped with a price hike for the PS5. Sony’s console went from 66,980 JPY to 79,980 JPY, roughly $470 USD to $561 USD.
Still looking to jump in and check out some of the latest titles, many fans are now temporarily adding a PS5 to their setup, rather than splurging on a full purchase. GEO, one of the leading media rental services in Japan, has been benefiting from providing this alternative.
Players are able to borrow a PS5 for eight days for the price of 980 JPY, roughly $7 USD. Of course, there are bigger rental plans as well. A fourteen-night option runs for 1,780 JPY, roughly $12.50 USD.
Although consoles are factory reset each go around, meaning your save data is wiped between loans, the service has become a huge hit. According to company representative Yusuke Sakai, around 200 stores across Japan lent out their entire PS5 stock in the month of March, as Automaton first relayed.
PS5’s have never been cheap, with recent price increases have put them out of reach for even more households.
Similar rental services have long existed across Europe, the United States, and other markets too, though console ownership has always taken precedence. In Japan, the pendulum is now starting to swing the other way, as fans seek temporary rentals in order to play the latest games at a more affordable price.
It’s also worth noting, console sales in Japan have been on the decline as a whole, so this issue isn’t just pertinent to PlayStation fans in the region.
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