It doesn't matter what other people have or have not encountered any issues. Your car is not the same as others. If your car has been running ok without any issues, then you should put that money away and use it when needed. Putting in a CD account and earn interest is better than putting it in someone's pocket and earn $0.

 

bought my 550 used 2 years ago. Was offered an opportunity to buy after market extended warranty for around $ 3,000 up to 100K miles. I refused since it's added to my balance which after finance, it's not really $ 3K in the first place. Well that and the fact I'll take my chance with my own car since I'll be doing most of the maintenance myself. Yes, I've been having problems with my tensioner pulley and my water pump recently but I have no regret since those parts will only cost me around $ 500 plus the joy of learning how to fix it myself .

If you do have the extra cash lying around then it's worth it for your peace of mind but as for me, I rather use that cash on something else. I did. Used it along with a trade in of my wife's car for our family's Escalade.