Sony opens an official PS5 rental service in the UK

We're over four years into the current generation of consoles (which is probably past the halfway point) and while Sony is still selling tons of PlayStation 5 units, the price of the system means it remains out of reach for many. To help address that, Sony has teamed up with a leasing company called Raylo to offer a PS5 rental service in the UK via the country's PlayStation Direct website.

Leases for the PS5 Digital Edition, the version with a disc drive and the PS5 Pro are available on 12-, 24- or 36-month agreements or a rolling monthly contract. The longer a term you lock in, the lower the monthly price will be. For instance, a 36-month agreement for a PS5 Digital Edition costs £11 (around $14) per month. A rolling contract for the PS5 Pro, however, will run you a whopping £35.59 (nearly $46) per month. There are also leasing options available for the PlayStation Portal and the PS VR2 headset, which just got a price cut.

As The Standard points out, there's a lifetime warranty on each device. Raylo won't force customers to pay extra if they return one at the end of a lease with minor dents, scratches or discoloration (though there will be penalties for "significant damage"). You can cancel at any point, but you'll need to pay a fee if you change your mind before 18 months have passed, though there is a 14-day grace period. 

While there are some benefits to leasing, particularly for those who want to play a PS5 but can't afford the initial cost of buying one upfront, there are drawbacks. Depending on the lease term and length of the plan, renting a PS5 can cost more than buying one. There are options to buy a device at the end of a lease, or to continue renting or upgrade (a three-year contract would take you up around the time the PS6 is rumored to arrive in 2028). Otherwise, you won't own the thing you've been paying for over the last several months.

On the other hand, Xbox has offered monthly payment plans for the Xbox Series X/S from the outset with Game Pass Ultimate included. And yes, you do get to keep that console at the end of the financing period.

This article originally appeared on Engadget at https://www.engadget.com/gaming/playstation/sony-opens-an-official-ps5-rental-service-in-the-uk-174653347.html?src=rss https://www.engadget.com/gaming/playstation/sony-opens-an-official-ps5-rental-service-in-the-uk-174653347.html?src=rss