This is the second post in a series we are calling MythBreakers, where we dispel common myths about textbooks and other issues that plague college students. We are on a mission in 2010 to make sure that you have access to the cheapest textbooks possible in order to defer other rising education expenses. Our previous post, MythBreakes Presents: Is Renting Cheaper Than Buying? showed that students save more by buying a used textbook and selling it back at the end of the semester at ValoreBooks.com than renting it. In this post, we are revealing some of the hidden costs of renting textbooks. These costs are the additional costs you would incur if you forgot to return your book on time, it was lost or stolen, or if the rental company considers your book damaged at the end of the rental.

If your textbook is not received by the rental company by the return date, you will automatically be charged an extension fee. The extension fees range from about 25% of the rental price, all the way through 20% of the list price. The extension ranges from 7-15 days extra. For the books we tracked, the extension fee ranged from about $3.50 to $36.16, depending on the rental company and the textbook.

What happens if your book is returned after the extension period, or is lost or stolen during the semester? You will be charged a replacement fee, a hefty replacement fee at that. The cost of the replacement fee is about the list price of the book. For our research, the replacement fee ranged from $52.86- $165.80. Keep in mind that the list price is much higher than the rental price. For our research, the average list price was $128.19.

How about damaged books? A damage fee is assessed depending on the extent of the damage, and whether or not insurance was purchased on the book. Please see the expanded data below.

To be sure that you won’t be hit with any unexpected costs, purchase a used textbook from a marketplace such as ValoreBooks.com. You can own the book for much less, and never have to worry about being charged additional fees. Even better, since you own the book, you have the right to sell it! You can participate in our sell back program or register to become a marketplace seller and set your own price! If you have any questions about buying and selling at ValoreBooks.com, please don’t hesitate to contact us! Do you have any other myths you would like us to explore?

* Buy and Sell prices are based on available pricing on 1/28/2010 at 10:00 AM. All prices are subject to change at any time based on the actions of marketplace buyers and sellers. Renting prices are based on the average prices for available book rentals at 10:00 AM on 1/28/2010 from bookrenter.com, campusbookrentals.com, chegg.com and ecampus.com. Rental prices are based on the duration of one semester. All prices are subject to change at any time.

To begin selling your books online all you need to do is:

1. Register to become a marketplace seller
2. Upload your inventory
3. Ship your books
4. Get Paid! We collect no fees unless you sell.

Seller Tools
Share in the efficiency of major web retailers with one streamlined order fulfillment program. Guaranteed to increase efficiency.

1. Upload inventory files
2. Sort and print item retrieval lists.
3. Confirm and print hundreds of orders with one click.
4. Print invoices and shipping labels.

Automation
Automate your Inventory and Order Processing – We accept virtually any file format.

Tech Assistance
We provide free unlimited technical assistance. Contact us now with any questions!

No Hidden Fees
The only fee we charge is 15% per item sold.

Seller Payment Guidelines
ValoreBooks.com fees per item sold: 15% of book sale price. Sellers will also receive a shipping credit based on the method of shipping.  The shipping credits are listed below:

Shipping Method Paid to Seller
Media Mail $2.69
Priority Mail $5.69

Seller Payments
Seller payments close on the 15th and last day of each month and are issued within 10 business days. Payments are currently issued by check.

For more information please view our Marketplace Seller home page, and make sure to check out our Tips for Booksellers page. If you have any questions, please contact us!

If you are a student looking to sell textbooks back online with our textbook sell back program, make sure to check our recent post about selling textbooks back online.

Ever thought about selling a textbook online, but was unsure how to do it and what the benefits were?

ValoreBooks.com has created Sell Textbooks University to give textbook sellers the background information they need to make the right decision about how to sell back their textbooks. Sell Textbooks University explains the pros and cons of the four most common methods used for selling books.

The four most common textbook selling methods are:

1. Visit your campus bookstore during their designated buyback dates.
2. Visit an off-campus bookstore near your school or hometown.
3. List your textbooks on an online marketplace.
4. Sell your textbooks with an online textbook sell back service.

There are many pros and cons to each of these methods, so please read on to educate yourself on the method(s) that will best suit your needs. (Read More)

One lucky college student was talking with a coworker about how she was struggling to pay for her textbooks for the upcoming spring semester.  As she prepared to clear her table, she found that her customers heard her talking about her struggles to pay for her textbooks, and left her a $400 tip!  Click here to check out the full story at KMBC.com.

Not everyone is so lucky to get a $400 cash tip to pay for your textbooks.  If you are looking for ways to save money on textbooks make sure to take a look at our previous post, Finding Cheap Textbooks.