Radars have been widely deployed in cars in recent years, for advanced driving assistance systems. The most popular and studied modulated waveform for automotive radar is the frequency-modulated continuous wave (FMCW), due to FMCW radar technology’s ease of implementation and low power consumption. However, FMCW radars have several limitations, such as low interference resilience, range-Doppler coupling, limited maximum velocity with time-division multiplexing (TDM), and high-range sidelobes that reduce high-contrast resolution (HCR). These issues can be tackled by adopting other modulated waveforms. The most interesting modulated waveform for automotive radar, which has been the focus of research in recent years, is the phase-modulated continuous wave (PMCW): this modulated waveform has a better HCR, allows large maximum velocity, permits interference mitigation, thanks to codes orthogonality, and eases integration of communication and sensing. Despite the growing interest in PMCW technology, and while simulations have been extensively performed to analyze and compare its performance to FMCW, there are still only limited real-world measured data available for automotive applications. In this paper, the realization of a 1 Tx/1 Rx binary PMCW radar, assembled with connectorized modules and an FPGA, is presented. Its captured data were compared to the captured data of an off-the-shelf system-on-chip (SoC) FMCW radar. The radar processing firmware of both radars were fully developed and optimized for the tests. The measured performances in real-world conditions showed that PMCW radars manifest better behavior than FMCW radars, regarding the above-mentioned issues. Our analysis demonstrates that PMCW radars can be successfully adopted by future automotive radars.