Is it better to rent or buy college books? Is renting textbooks a good idea? There are still many uncertainties about the process of renting textbooks, and here we will clarify some of the questions.
The article was updated on July 11, 2019.
- Is It Better to Rent or Buy College Books?
- The Benefits of Buying Textbooks
- The Drawbacks of Buying Textbooks
- The Benefits of Renting Textbooks
- The Drawbacks of Renting Textbooks
- How do You Decide if You Should Buy or Rent Your Textbooks?
Is It Better to Rent or Buy College Books?Â
Buying versus renting textbooks is a common question among college students. The choice can vary by semester, by class, and by student. Both renting and buying textbooks have benefits and downfalls. If you rent textbooks, they can be provided with the guarantee of a lower price up front while buying a book gives freedom to use the book however you want for as long as you want. In this post we dive even deeper into the buying versus renting question.
We’ll start with a simple pros and cons list for buying textbooks and renting textbooks.
The Benefits of Buying Textbooks
The benefits of buying textbooks range. As mentioned above, the benefits can range from semester, class, and student. The most commonly viewed benefit is that you own the book. Owning the book gives you the freedom to highlight and take notes in the book itself. You can use the book for however long you need, even years after you complete the course. Buying the book also gives you the opportunity to resell the book–making money flipping books in the future.
Let’s break down the benefits of buying textbooks even further:
You Own the Book
By owning the book you have every right to use it however works best for you. Some students prefer to highlight and take notes in their books. If this method helps you learn best, purchasing a book may be the best option for you, especially in the key college courses.
When you own the book you can also lend it out to others as you wish, donate it later on, or keep it as a resource. If you can see yourself using the book again for another course in your degree program, purchasing it once may be a great option for you. Another thing to consider is if your professional field will require you to know a vast amount of key technical terms. If the book is an essential resource for your career, purchasing the book is a great decision.
Owning a textbook also gives you the freedom to repurpose the book later on. Recycling hardback books as decor or crafting with old books is a trend that many book lovers enjoy.
You Can Resell the Book
Another great benefit of purchasing the book is that you can resell the book at the end of the semester or once you are no longer needing the information handy. Selling back the book can mean a chunk of change back into your pocket for next semester’s books. BookScouter is a great resource for re-selling your textbooks. With the BookScouter resell platform, you can find the best resell price and make the sale. Occasionally this can result in selling the textbook for the same price (or more) than what you paid for, if you play your cards right.
The Drawbacks of Buying Textbooks
Without writing much, you may already have a list of disadvantages of buying textbooks. The most common downside to purchasing textbooks is that the book has a hefty cost upfront, especially if you are purchasing the book brand new. Another disadvantage is that often you cannot get the same price back for the book when you go to resell.
Let’s explore the disadvantages of buying textbooks:
High Upfront Cost of Buying TextbooksÂ
Unfortunately, buying a textbook will almost always be more expensive up front. You have to be prepared to pay more money than you would if you were renting. This is especially common for hardback textbooks with a new edition. Purchasing used books can help soften the financial blow, however, any textbook (new or used) can be an expensive investment. But if you’re looking for ways to minimize costs, check out our article on where to buy cheap books online for affordable options.
The Need to Care for Your TextbooksÂ
While you’re likely not looking to completely destroy the textbook, using a book throughout a semester can result in wear and tear. If you hope to resell the book after purchasing it, minimizing damage is critical to your ability to resell at a great price. Many used textbook stores and platforms prefer books without excessive writing, highlighting or damage. You’ll need to avoid taking notes and highlighting in the textbook and ensure that no spills or stains occur on or in the book.
The Demand for TextbooksÂ
You will be purchasing textbooks at the same time as all of your classmates. It is important to keep that in mind when preparing to purchase your books for the semester. If you know that you are taking a class with many other students, take extra care to confirm that local bookstores and online shops have not sold out of the popular book.
The Benefits of Renting Textbooks
Renting textbooks has become a popular option among college students since the launch of Chegg in 2005. Renting textbooks through rental companies like Chegg, Amazon book rentals (no longer available), and college bookstores provides students the opportunity to spend significantly less on their textbooks and a place to send their textbooks once they’ve completed their classes. This not only frees up the bank account, it also saves time and energy at the end of the semester.
Let’s break down the advantages of renting textbooks:
It is Cheaper to Rent Textbooks
Renting textbooks is almost always cheaper than purchasing a new book. While it is rare that you would receive a brand new textbook when renting, the conditions are good since the books have been processed by an outside company. Even though the book will be used, it will be in good condition for a fraction of the cost of purchasing a new or used textbook.
No Need to Worry about Keeping Your Textbook in Perfect ConditionÂ
The book you rent will most likely have some wear and tear, because others will have used it. While you should still be careful with the book, you do not need to worry about every little mark in the book because there will likely already be a few.
You Know What to do with the Textbook at the End of the SemesterÂ
Knowing exactly what to do with your textbook at the end of the semester saves you lots of hassle of considering reselling or keeping. Then if you keep the textbooks you have to decide where to place your books. When you rent textbooks, you have to return them by a certain date. All you do is send it back to the rental company. That’s it!
The Drawbacks of Renting Textbooks
Renting textbooks is not always the ideal choice. Renting means obligation to return the book even if you changed your mind and want to keep it. You will not make any money back on the book if you rent, and if you miss the return deadline you will be fined.
Let’s dive deeper into the disadvantages of renting textbooks:
Inability to Make Money off of the BookÂ
When you rent you do not have a chance to return money back to your bank account as you might have had if you could sell it back. Renting can be a risk in this way. You may have saved money by renting, however, at the end of the day you may have made your money back by reselling.
Deadlines and Fines are Possible When You RentÂ
If you struggle with deadlines, renting is a high risk for you. When students miss the deadline for returning their rented books they are often fined at high rates. This often results in paying much more than you would have if you had purchased the book. When renting make sure that you know when the books are to be returned and ship them immediately. Huffington Post shares about the pitfalls of renting, especially when it comes to fines, in this article.
You Cannot Keep the BookÂ
If you find the textbook extremely helpful and think it may benefit you in your career, you do not have the option of keeping it. That is, you could contact your rental company to see if you can purchase it now, but that may result in a high “late/never-return” fee. To avoid any such fee, you would need to return the book and then purchase your own copy, which would make renting counterproductive in regard to your finances and time.
How do You Decide if You Should Buy or Rent Your Textbooks?Â
Is renting textbooks a good idea? With these pros and cons list in hand, you are now ready to move forward with making a decision. When considering, make sure you are aware of your learning style and your book use habits. Talking with your professors and graduates of your program can be helpful in deciding which books you will need in the long run and which books you will only need as a resource for one semester or one course.
Whether you decide to buy or rent your textbooks you can use BookScouter.com to find the best prices. If you do choose to buy, BookScotuer can help you resell your book with ease, eliminating the buyback worry.
