Scotty Kilmer, mechanic for the last 50 years, discusses whether you should buy an extended warranty when you purchase a car, either new or used. Before you plunk down some serious money, learn the inside information on car warranties
most don't cover much when that old
This is the exact question I was asking myself and your video is spot on. It appears that the going rate for premiums on decent extended warranties that dealers are selling are about 20% of the cost of the vehicle. Back in 2005, I bought a 2001 audi allroad with an extended warranty for around $3,000 on a $27,000 vehicle cost and that warranty paid out about $15,000 over its life. That was money well spent.
It would be interesting to know of any reputable extended warranty companies, that will warranty higher mileage vehicles (i.e. 75,000+ miles) outside the dealer purchase process.