Should I import a game console that costs less or buy one locally despite having a higher price tag?
I’m considering whether I should import my console from another country where its the equivalent of 354€ while the same in where I live costs 520€ (inc. VAT), but the biggest gripe I have is warranty (since that is region locked, as repairs are only covered & valid in where the console is purchased) besides tariffs, so putting that into perspective: should I risk importing it or being ripped off buying the same thing in my country?
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You're in EU, also note all the new import charges. It might end up being worse. Other commenters also said this, but be wary of console region locks as well.
Do your research to ensure compatibility. Some consoles will only play discs from the same region they're locked to. There may also be differences in the power grid between regions that can affect some functionality in some consoles.
If all that checks out, might be worth the risk.
Be careful of voltage. I've no idea if consoles are flexible enough to cope with 240V if bought in the US, for example.
Depending on the console, 50 versus 60 hertz can also make a difference. In some older consoles, the tick rate of the processor is bound to the alternating current of the power grid. Also back then, game speed was tied directly to processor speed. So some consoles will literally run noticeably faster or slower when plugged into different regions' grids.
The difference is almost 50%. That's ridiculously huge. I would import.
And you could take out insurance on the difference if you're worked about the warranty. Or buy on a credit card with insurance.