How to Avoid Getting Screwed During Textbook Buyback Season [Saving Money]

Every semester colleges require their students to acquire a back-breaking amount of books which is most easily accomplished through the campus bookstore. This is also the most expensive method, but they offer buyback programs as well so students can get some of their money back. In an ideal world, those buyback prices will be pretty reasonable, but there are several ways that buyback price can go down. Here's how the process works, what can go wrong, and how you can avoid getting screwed during textbook buyback season.

Photo by Scott Barkley.

The Problem with Campus Textbook Buyback Programs

Campus textbook buyback programs are always convenient and offer you a reasonable amount of money when they work. It's when a book goes out of print, a new edition comes out, or the school just decided to go with another textbook that you run into trouble. We talked to the folks over at BookRenter.com and they offered some advice:

If the book is going to be readopted by the school, then the buyback price that you're getting from your school bookstore (at least 50%) is good - and very fair. Getting 50% for a used book is a premium price. So you should definitely go with it and sell your books back to the college bookstore.

If you're not getting half or more, then you should ask the bookstore why. Is the book not being readopted by the school, or is it because there's a new edition? Shop around for other buyback options. Unless there's a new edition coming out, you should be able to get at least 50% by doing your buyback online.

If you're not getting half or more and the bookstore tells you that it's because there's a new edition, then you're in the toughest spot. Your best bet is to sell the book online - as quickly as possible, and start at a low price: 20% of the original price at most. Since there's a new edition coming out, that means that there's almost no demand for your book. There's an immense supply, so the longer you wait, the tougher it will be to sell. Moving fast and starting at the lowest price will give you the best chance to sell your book.

When you're selling your books there are a lot of options. We polled you about the cheapest places to buy used books, which are incidentally good options for selling as well, and Chegg and Amazon were among the favorites. Obviously there are several more sites like BookRenter.com, Textbook Recycling, and many more. You should check as many as you can to see who is offering the best buyback price and always look online for coupons. Finding a coupon can often make a decent difference in the buyback price you get. For example, Textbook Recycling is offering an extra 5% back until December 31st, 2011, when you use coupon code LIFEHACKER when selling your books. That's just one to get you started, but you can generally find coupons for any site during prime buyback times by just searching the web.

Photo by Cox College.

How to Avoid the Problem

There are a few ways to avoid the problem of getting stuck with a textbook you don't need or want. If you have the foresight to rent your books that's one of the simplest ways to avoid the problem. Obviously the previously mentioned BookRenter.com is an option, as is TextbookStop, Campus Book Rentals, and Valore. Again, be sure to look for coupon codes. BookRenter.com is offering 5% off two rentals with the code LIFEHACKER. Be sure to search the web for others if you have a preference for a particular service. Overall, renting can save a lot of money so long as you take good care of your book and remember to actually return it. If you are concerned about remembering to return the book and don't mind a digital copy instead of a physical one, check out CourseSmart.

Alternatively, local book swaps are a good option. Often times someone will have organized one on your college campus so be sure to look around. Alternatively, try web sites like Paperback Swap and Local Textbook.

Finally, if your campus offers free (or really cheap) photocopies, your school library should have two or more copies of any given textbook your courses require. Photocopy the necessary pages in the library when you've got some free time and you'll have only the necessary pages instead of a whole book you'll only need for a semester.

Got any other textbook buyback tips or tricks? Let us know in the comments.

Source: http://feeds.gawker.com/~r/lifehacker/full/~3/Uk4WaV5zHbM/how-to-avoid-getting-screwed-during-textbook-buyback-season

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