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Car rental in Nepal is almost unheard of, as is renting a car in India and taking it across the border.
Many travellers drive from India on Royal Enfield motorcycles. Technically, foreigners have to pay customs at the borders but most don't bother. Selling the bike in Nepal is easy as other travelers are looking for bikes to ride back to India.
If you are coming from India you will find driving in Nepal a lot less chaotic! The roads are amazing and the new east-west highway currently under construction with support from the Japanese will open up new destinations for those interested in exploring Nepal by motor-bike.
Please check before hiring a motorbike on the current state of fuel. At time of writing (13DEC 09) there was large problems with fuel supply which can leave riders stranded. At time of writing, bike hire should be no more than 500Rs a day (Pulsar, Hero Honda, scooter) unless you are hiring an Indian Enfield.
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Hirers are also notorious for trying to charge tourists large amounts of money on returning the bike for 'damage payment' that may not have been from you. Therefore make sure a thorough damage assessment with the hirer is carried out before departing and if the hirer tries to scam you on return go to local police.
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