I just bought this car, love the look, love the feel of the car....but went to have it inspected, and a code came up, P0420 I beleive, and the inspection guy informed me it could be the catalyic converter.

1st question...is there any type of warranty that would cover this part? Ive heard of much older cars that have no issue with catalytic converter and was wondering if I got a bum cc, maybe a manufacturers defect?

2nd question...what do yall suggest I do to fix this problem? I just have the " well, it could be.." phrase, and after dropping substantial $$ the code still comes up.

Anything yall could help me with I would greatly appreciate! I wanna be cruising the streets soon!