Update: After about 5-6 returns using my account, that option was disabled and I have to do it over the phone, which is not so convenient as over the internet. As a result, I just canceled my account.
As many of you know, you can buy audiobooks from Audible, but not all of you know than you can also rent books from Audible, although Audible does not call it "renting" and does not advertise anywhere on their website renting option. The service called Great Listen Guarantee and what it is doing, is allowing you to return any book back to Audible if for some reasons you did not liked the book, and get your credit back (also you get credit each month with your subscription) and use this credit to buy a new book.
How to exchange audiobook back to Audible
Exchange Audible audiobooks is very easy, first go to "Contact Us 24/7", on the first question "What can we help you with?" select "Something else". On the second question "Tell us more:" you need to select "Return or refund". Now the link appear and after clicking on that link you will be navigated to purchase history where you can choose any book and press return.
Another option is directly navigate to address https://www.audible.com/purchase-history
Is it any risk, harm or consequences by returning books?
I know that a lot of people has concerns if returning books too often can flag there account or even block it. I also had the same concerns, so I contacted support team and asked direct question if I can return books because I just want to read another book. The answer was YES, and I was assured than there are no consequences to such behavior. Below you can see my chat with one of Audible support staff.
Here's a copy of the chat transcript you requested:
Question : Can I just buy book, read it and return, I mean not because of some issues with book, or because I did not liked it, but because I finished book and want to listen something else.
10:31 AM PDT Henry: The idea of the Great Listen Guarantee is to return book you didn't like. However, if you wish to return a book you already listened to just because, you have the option to do it and use that credit just one more time.
10:33 AM PDT Alex: Thanks Henry, is it any consequences? Account blocking or something like this? I don't mind to pay monthly fee, but idea of renting book is more interesting to me.
10:34 AM PDT Alex: and I am looking into your option to return books like renting option
10:34 AM PDT Henry: Right. No, your account will not be blocked. The credit will be valid to use one more time, that's the difference.
10:35 AM PDT Henry: Correct. So you can download books and then return them, no harm there.
10:35 AM PDT Alex: do you mean I can return book only 1 time? not quite understand about "one more time"
10:36 AM PDT Henry: No, what I mean is that you can return as many books as you like, as long as they have been purchased in the last 12 months. Either way, you will continue to receive credits so you can return them and use the credits one more time (to purchase a different book).
10:37 AM PDT Alex: ok, thanks Henry. Just a suggestion, you better create official "renting" option, because if you already have it, but with different name.
10:38 AM PDT Alex: have a good day.
10:38 AM PDT Henry: Hehe, thank you. A pleasure and thank you so much for contacting Audible Chat Support. I hope you have a great day too Alex.