Extended warranties are like playing poker; your betting against their hand, and they are usually holding the better cards.

We bought a slick new Pontiac Gran Prix GTP in '97, and got the full tilt warranty package, "just in case"; we hadn't had a domestic for several years because of quality issues, so we were a bit skeptical, but that car just appealed - no, it screamed "wow" - took us back to our youthful days of hot cars on the street. Well, it lived up to it's appeal, and we loved driving it. But, at about thirty thou, it started leaking from every possible orifice, leaks were not covered on the warranty, and I couldn't keep the loose fasteners tightened fast enough, so after another couple of years and some twenty thou more miles, I took it to the dealer and asked how much to take care of the mess. Yikes!! 3500 bucks, give or take. They would have to remove the whole drive train package to get at the rear valve cover and head gaskets and transaxle seals. So, we hung our heads in sorrow, and went across the street to the Toyota store and traded our hot rod in on a Granny car. That warranty was just a waste of money; it only covered the big stuff, and the big stuff never gave us any trouble. I never was any good at cards.