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You've probably heard about car dealerships offering customers incredible zero-percent financing deals; however, you've been warned that there may be some disadvantages to taking this financing route. So who do you believe, those who are warning about potential pitfalls, or your stomach that's churning in excitement at that thought of zero-percent interest?

There's no doubt that having to pay no interest is very impressive. However, there are some potential disadvantages associated with accepting zero-percent financing as well:

The key to working with zero-percent financing is understanding the fine print and knowing your financial status so that you know for sure what you're getting doing and if a zero-percent financing plan is feasible for you.

Many people are taking advantage of the economic downturn to buy some big ticket items they could not previously afford. With government money backing tax incentives for new car buyers, the time for buying (and boosting the American economy) has never been more favorable for consumers. Additionally, dealers of both American made and imported vehicles have high levels of unsold car inventory and are taking some desperate measures to move the vehicles.

Good Warranties All-Around

If you are thinking the time is now to buy a new car and want to buy American, there is no need to even hesitate. Despite the potential bankruptcy of American car manufacturers such as GM and Chrysler, President Obama has taken steps to ensure that the warranties of those manufacturers will be upheld and your car will be properly covered courtesy of the Warranty Commitment Program.

Warranty offerings such as time or miles covered tend to vary between car manufacturers. Typical warranty information covers either bumper-to-bumper protection (almost every part of the car capped by either a period of years or miles, whichever comes first) or a powertrain warranty (that may provide additional protection on specified mechanical parts).

Best Manufacturer Warranties

• BMWBumper-to-bumper for four years/50,000-mile, including four years of roadside assistance and manufacturer recommended maintenance
• Chrysler LLC (Chrysler, Dodge and Jeep)Bumper-to-bumper for three-year/ 36,000-mile including roadside assistance plus a lifetime powertrain warranty
• General Motors (Chevrolet, Saturn, GMC and Pontiac)Bumper-to-bumper three-year/36,000-mile
• General Motors (Cadillac, Buick and Hummer)Bumper-to-Bumper four-year/50,000-mile. bumper-to-bumper protection plus additional five-year or 100,000-mile powertrain warranty picks up
• HyundaiBumper-to-Bumper warranty five years/ 60,000 miles plus an additional 10-year/100,000-mile powertrain coverage plan

Depending on the type of vehicle, some of these warranties are transferable to new owners while selling the car voids the warranty inspection. Your safest bet is before buying a car, decide on how long you want it for, and then find a car backed with the best warranty suited to your needs.

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