Could be problematic to cross borders in that area on a rental vehicle. I´ve done that many times (Thailand-Cambodia-Laos), but the person, who owned the vehicle, was always with our group. May be hard to explain to them what you want to do, unless you speak the local languages.
Crossing overland into Vietnam with vehicles registered elsewhere is known to be a problem. Minsks or other bikes bought from Vietnam seem to be able to cross into Laos or Cambodia and back.
Which is better, renting or buying, usually depends on many things, how much time you have, etc.
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