For the most part extended warranties are without merit, especially when buying one for something new. Occasionally they might pay off but that is rare. Of course, if it gives you peace of mind than maybe they are a good thing, assuming of course that the broken part is covered. You got to read the fine print!!

I have gotten extended warranties in the past, and when they went unused I stopped getting them. But a few years ago, I purchased a rather expensive used car with about 59,000 miles on it. The original warranty was about to expire, so I purchased a 2 year 40,000 mile extended warranty. So far that extended warranty has cost me $895 for the warranty and $150 in co- payments on repairs. Doesn't sound good until you see the other side. In those 40,000 miles the dealer has put out over $7000 in warranty repairs for a new transmission, new alternator, new front and rear differentials, head gaskets, and several other things. I now have practically a new car.