On the short and simple side NO!  Now I need to qualify that answer by saying that it has been my experience over 40 years of servicing autos that there have been occasions where our customer who purchased the product came out ahead by buying an extended warranty. These occasions are infrequent however.  Let’s face it, these policies, and that’s what they are technically is mechanical breakdown insurance policies, are sold to make the dealer who sells them and the company that issues them to make money. The odd are in their favor, the house always wins. I personally have a great insurance agent who insures my home, business and personal effects and genuinely looks after our well-being should something disastrous happen. These policies are not in the same league. First from a service provider standpoint they are a pain to deal with. Our service advisers spend an average of at least 30mins on the phone dealing with adjusters and bean counters to get the claim approved or denied, get paper work sent to them and collect on the repair order.  Then there is often a wait time while your car is waiting for repair approval so the adjuster can come out and take pictures.  Getting the claims adjuster to actually repair the vehicle the using the correct procedures is like pulling teeth, it seems they like to skimp on every detail, tell us how to fix it, or make the customer pay all the difference.  We recently had a customer with a pickup truck which the customer had spent a large sum for his warranty and his turbo went out.  We had to pull it (at his expense) and dismantle it to prove it was defective. At that point they wanted to provide the turbocharger, even though the dealer down the street from us had 2 in stock. We had to wait 3 days for it to be delivered.  The customer’s car tied up the rack with us unable to use the bay. The part arrived and we opened the box to find a rusty old used turbocharger in worse shape than the one we took off. The customer was furious to say the least, went down and purchased a new one for us to put on. The case is in some sort of litigation at this point. Needless to say this poor customer did not get his money’s worth.

According to a Consumer reports survey, among participants who used their policy, the median out-of-pocket savings on repairs covered by extended warranties for all brands was $837. Based on a $1,214 average initial cost, that works out to a net loss of more than $375. Factoring those who didn’t use their policy, the median savings was zero. And that may have something to do with why satisfaction with auto­mobile extended warranties is among the lower rated of all products and services surveyed by Consumer Reports, and why only about a quarter of respondents said they would definitely get it again.http://www.consumerreports.org/cro/magazine/2014/04/extended-warranties-for-cars-are-an-expensive-game/index.htm

Bottom line is, take the money you would have spent on an extended warranty, have the discipline to put it in savings and use it for future repairs and maintenance. Your wallet will thank you and so will your car!