It is true that if you buy a car, you will own it. However, if anything breaks on the car and needs to be fixed, that is your expense plus the hassle of having to find alternative transport while the car is being fixed. If you rent, you won't own it, but you don't pay for oil changes or any other standard maintenance. If you are planning to be here for awhile and use the same car that you will eventually pay off and own, that may be more cost effective (unless you are planning on getting some higher end car with outrageously expensive parts) in the long run. On the other hand, if you don't plan on being here for years and don't want the hassle of vehicle upkeep and then trying to resell is, perhaps renting may be the way to go.