Having recently purchased a new vehicle, I’ve been given 30 days to decide whether or not I want to shell out an additional $700 for a warranty extending the manufacturer’s warranty from 60,000 to 100,000 miles. The last new car I bought (Toyota), I reluctantly purchased the warranty and never used it. I’ve often heard that buying an extended warranty is just putting money in the dealer’s pocket that will probably never be spent. My first two Toyotas were never taken back to the dealer for any problems, and so far, I’ve found none with this one.
What’s the opinion here? Should I spend the extra bucks or trust my faithful mechanic? (No, I have no intentions of going back to the dealer for anything except defects or recalls.)