We have bought them at least four times and made $ on them three times. I wish you had posted BEFORE you bought it, however, b/c I could have told you that the price is NEGOTIBLE. I read that in Consumer Reports before we bought our van and successfully got the price lowered by $200. The other times we bought them, we paid what they said.
Ironically, the last one we bought was also on a vehcile with 31,000 miles. I had the a/c repaired under the contract (about $600). Unfortunately, we had a major repair just a couple thousand miles after it expired.
Two of ours were really useful. I had a van with an electrical problem, and twice used the rental car provision and had the van in the garage about a week. I paid $50 for what I'm sure would have been a $2,000 or so repair.
My dh had brake problems on his Camry about 1,000 miles before the contract expired. The dealer not only fixed the brakes but went over the car with a fine tooth comb and recommended some other things be fixed under warranty. The final bill was about $2,000, which we didn't pay. We literally did nothing to the car except oil changes/tires for two years after that.
We generally buy cars that are 2-3 years old and have low mileage and get the extended warranty. That way we have the lower price of the used car with the peace of mind of a new one.
