Reddit: Right now, GameStop (US only) is running a promotion where Pro members get a bonus of $50 when trading in certain consoles like the Series X. (If you're not already a Pro member, it'll be "free" after doing this deal.) The current trade value for a Series X in good condition is $385, so with the bonus, that's $435; a brand new PS5 is currently $450. You're only paying $15 out of pocket!
And depending on your state's laws, trade credit may be tax free, so you won't have to pay tax again on your new console since you already paid it on your old one.
Values for other consoles after bonus are:
XBOX One S: $138.0 0 (88.00+50)
XBOX Series S: $242.50 (192.50+50)
You can trade multiple consoles and get the bonus for each.
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Courtesy of CAG