Comments on: Rent vs. Buy: Tools, Textbooks, Caskets?

By: Ryan Colls

Ryan Colls — Tue, 14 Dec 2010 04:14:05 +0000

Most students think that renting is always the best option. But think again! It is good idea to compare textbook prices before deciding if a student should buy or rent textbooks.

Renting is obviously is good option when it is considerably cheap to rent than buying used textbooks. Rented textbooks have to be returned by the due date. A late return may incur fines as high as $10/week. Textbook rented from companies should be kept in acceptable condition and without excessive high lighting.

Buying used textbooks allows you to keep the book in whatever condition you wish to. At the end of the semester you can sell it or decide to keep it as reference material. If you decide to sell your textbooks you will usually receive at least 60% of the price if had purchased your textbook wisely.

Let us now use a price comparison website (UsedTextbookPrices.com or AffordTextbooks.com) to compare buying used versus renting.

Book 1:
System Dynamics (4th Edition)
ISBN10: 0131424629
See rental prices at usedtextbookprices: Chegg ($58), Textbookrus ($62)
See the used prices at usedtextbookprices: Abebooks ($73.99), Half ($83)
See international edition prices at usedtextbookprices: Abebooks ($28.98), Textbookrus ($29.74)

The above book is cheapest buying international edition. The difference is rental and used textbook price is just $14 indicating used textbook buying or just purchasing international editions are better option.

Book 2:
Biology: Concepts and Connections (6th Edition)
ISBN10: 0321489845
See the rental prices at usedtextbookprices: Chegg ($44), Campusbookrentals ($31.50)
See the used prices at usedtextbookprices: Half ($51), Amazon ( $57)

The above book is cheapest renting. But buying used is better option because at the end of the semester you are sure to sell this book for at least $35. Rent is good option if you want no hassle.

The decision to buy versus rent should be based on the price comparison and other factors discussed above. If you have pets that frequently tear and chew book, my advice is to buy cheap used textbook than renting.

Ryan Colls
Make Textbooks Affordable Campaign
Oklahoma State University

Article Source: http://EzineArticles.com/?expert=Ryan_Colls

By: Lyle

Lyle — Wed, 28 Jul 2010 02:10:42 +0000

The suggestion about cremation makes a lot of sense 36% of funerals in 2008 were cremations and they cost about 1650 while a more traditional burial costs about 7300. One could then have a nice wake on some of the difference. I notice that more and more indigents are getting cremated as the government realizes its cheaper. In addition you can have a memorial service at a more convenient time enable more extended family to make the service.

By: GGeekboy

GGeekboy — Tue, 13 Jul 2010 22:18:28 +0000

To an extent I have to disagree with the text books. Last time I went to rent the text books I found that renting cost about the same as buying them used, maybe a little less/more. But when you buy a used book, even for 10 bucks more, you have the ability to resell it and you have the insurance that if anything happened to the book you wouldn’t be charged full price (If you rent it they charge you the full price minus the rental charge. Don’t take in consideration getting a new book since no matter which scenario you would have to get another one). First step should be checked used prices vs renting, if renting is significantly cheaper evaluate your ability to keep the book presentable and decide. Never buy them new unless you have to.

By: J. Money

J. Money — Sun, 11 Jul 2010 18:26:27 +0000

Hah! Very true. As long as you have pockets full of quarters and a lot of patience ;) I ran out of both after 2 years living in NYC.

By: Paulius

Paulius — Sun, 11 Jul 2010 16:03:05 +0000

I’ve thought of another one that some people are renting – the washing machines. Well, not washing machine which you would take to your home and return, but going to the laundrettes.
If you are a student, or you have a very small apartment – that’s an OK choice. but if you have an OK sized apartment, then I would recommend buying one. The reasons are these: no one will steal your stuff, you can do whatever you want while it’s spinning, I haven’t heard of any major revolutions in washing machines for the past 10 years, so it is possible that there won’t be any in the close future. So, unlike the carpet cleaners – it’s worth it. + you can always share it with your neighbours. Or even earn money washing it for them.

By: Peter

Peter — Sun, 11 Jul 2010 15:10:27 +0000

Textbook rental is more costly than buying and reselling. The market for used books is extraordinarily efficient and offers resale prices far in excess of what can be found in any other secondary market. It is literally impossible to do better. There may be outliers, but for the vast majority of texts and all of the commonly used texts in lower level courses, rental will end up being significantly more expensive. Anybody who claims otherwise is going on poorly informed anecdote. That is why as a textbook retailer I will be offering rental as soon as practicable, because students will pay more for it.

By: Paulius

Paulius — Sun, 11 Jul 2010 00:02:02 +0000

@Paul Totally agree with you! sometimes hiring someone is much more effective. the formula is simple $/h of you own labour/$/h of hired labour. If the Q reaches less than 0.5 then you should think if it’s worth it. Well, obviously there are additional costs(petrol/electricity/time to go there and sign)

@finallygettingtoeven.com
both posts are good :) thanks for the tip on the ‘tool rental centre’

By: J. Money

J. Money — Sat, 10 Jul 2010 23:58:45 +0000

Thx for this great guest post Danielle! Lots of buzz and links around town – Consumerist AND Lifehacker – you rock. And for me, I’d totally put a House up in here. Much rather go back to renting and feeling more free than “owning” ;) But we all have our own preferences.

By: Darren

Darren — Sat, 10 Jul 2010 23:32:47 +0000

Looking back now, I’d totally rent textbooks, or at least buy them and sell them immediately after the quarter. I still have them today, and they’re not worth anything because they’re out of date. For that reason, I don’t think I’d ever buy and keep a textbook. Updated versions come out all the time.

By: Paul

Paul — Fri, 09 Jul 2010 19:46:10 +0000

I think there’s even a third angle here, certain jobs you just hire out.

I have rented items from the local machine rental outlet. I hate this process. They make you fill forms out in triplecate and make a big fuss about all their rules. I remember doing this, it took 30 minutes to rent a lawn aerator. I walk out back and this greasy guy pulls out a greasy unit from the back. I swear he filled it with gas while he had a cigarette hanging out of his mouth!

For my carpet cleaning, I have mine cleaned twice a year for 200 dollars each time. Obivously, I could own a Dirt Doctor every year for this kind of cost. BUT, these guys come in and move furniture, clean every carpeted surface in my house and take only about 2 hours total.

I’d never get it done that quick, not to mention all the steps. It’s worth it to me to allow me to do those project that I DO enjoy to pay the 200 bucks. I always make sure to use that 2 hours on something I WANT to do, then it doesn’t feel like a waste.

Same with lawn treating. I have TruGreen do it. It costs easily 3x more. But, I do alot of OTHER work on my lawn and that’s why people always say I have the best lawn in the neighborhood.

In the end, you have to make smart decisions about what makes the best use of your dollar bills and minutes.