It's hard to argue with the logic of taking a 96 month 0% loan. There's no interest charge! You are free to pay out the loan early too.
The problem is that even with a zero interest loan, you're upside down for a long time. You're making payments well past the warranty period.
If you're very certain that you will keep the car, and you are choosing a very reliable model, then maybe long financing works, but there's still a good chance you'll regret it.
A friend of mine was buying a new car. They had 84 month zero percent financing. He was planning on a 48 month loan. So, he took the long financing, opened up a bank account to service the loan, and deposited the payment that he would have been making on a 48 month term. He's actually right at that 48 month mark now, and has exactly enough in the account to pay out the loan. I asked him why he did it this way. He explained that "my income is kinda up and down, so I liked that I could go down to the much smaller payment for a few months if I had to, or even not make any deposits for a month or two if I'd made some and built up a surplus. A savings plan, kind of, but turns out I didn't need it, now I can just pay the car out."
Not what I'd have done, but worked for him. The important part is that he bought a car he could afford over four years, not seven, or eight, etc.
