I agree, the extended warranties are a rip off. They're designed to make a profit, not payout claims, and IIRC there were some lawsuits over a chain of dealerships that were owned by a major invester in an extended warranty company. I can't remember the name but the point is that the contract terms were to the point of being fraudulent. IMHO, budget for repairs instead of an extended warranty. You might have to pay for repairs but if you pay for an extended warranty you know you're going to pay.
Yes, extended warranties usually are a money maker for a company or they would not offer it. It is all about business. If you put the money you would put into the warranty into a savings account, you will gain on the interest instead of somebody else and you can cover almost any repairs if you do have a problem. With proper maintenance you should be ok. My VW TDI has 225000 miles and I have not spent over $1000 in repairs over the last 8 years.
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