I had used car warranty beyond that statutory 3 months/5000km offered. Got air-con fixed for nix under the legal warranty. I service vehicle myself to save money and for something to do. Since my extended warranty expired, only repair that has been required is a couple of sway bar bushes (cost me $12 to replace!) and the transmission seal started to leak ($50 repair at transmission place). Car is 71,000km, looked after, going strong.
Look at what is actually covered. With me it was not much. Even then, my plan had a limit of $1000. So If my motor blew, I pay $4000 rather than $5000. Hmm...