Should you wait for PS5, or buy a current-gen PS4 console instead?

While the next-generation of consoles are just around the corner, gaming hasn't stopped.

New games are consistently coming out, and if you've finally decided to invest in a PlayStation console for their fantastic collection of exclusives, you may be wondering whether to buy a PS4 now or wait until the PS5 comes out.

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If you're struggling to make this decision, read on for all you need to know to make a choice.

Should I buy a PS4 now?

There are plenty of benefits to owning a PS4, and the main one is all the award-winning exclusives that you cannot play anywhere else (except occasionally on the PC). These include The Last of Us 2, Spider-Man PS4, God of Warand Final Fantasy VII: Remake.

If you were to buy a PS4, now would be the best time since the console launched. Since the current-gen of consoles is winding down, you will be more likely to find cheaper bundles or deals for the PS4 as shops look to shift their stock before the PS5 comes in.

However, if you have enough patience to wait until the PS5 launches later this year, I'd recommend holding off. Here's why.

READ MORE:PS5 vs PS4: Is it worth upgrading to next-gen at launch?

Why you should wait for the PS5

While the PS4 may be cheaper right now, it could end up costing you in the long term. These are the reasons waiting for the PS5 may be the better option.

Buying the PS5 will save you money

If you buy a PS4 and immediately fall in love with the PlayStation consoles, it will be pretty tempting to upgrade to a PS5. If you end up buying a PS5 too, then you'll have ended up spending hundreds on a console that you want to get rid of just five or so months later.

Given that everyone upgrading to the next-gen will be trying to sell their PS4, supply-and-demand economics dictates that shops such as GAME or CEX will offer lower prices for trade-ins, or people online will sell their consoles for ridiculously cheap.

So unless you have the cash to burn, I'd try and hold out until the PS5 launches, and pick it up on release day.

READ MORE: PS4 trade-in for PS5: where can you trade in your PS4, how much would you get for trading in a PS4 Pro, and should you trade in your PS4 to make a PS5 cheaper?

The PS5 is backwards compatible

While the PS5 does not appear to have a Smart Delivery system similar to the Xbox Series X's, Sony has confirmed that most titles from the PS4 library will work with the next-gen console.

This announcement came from a Sony blog post, in which the company stated that “ With all of the amazing games in PS4’s catalogue, we’ve devoted significant efforts to enable our fans to play their favourites on PS5."

"We believe that the overwhelming majority of the 4,000+ PS4 titles will be playable on PS5.”

This means that all the aforementioned PS4 exclusives such as The Last of Us 2, Spider-Man PS4, God of War, Uncharted 4, Bloodborne and the upcoming Ghost of Tsushimawill all be playable on the PS5.

READ MORE: PS5 Smart Delivery: Will the PlayStation 5 have Smart Delivery like the Xbox Series X?