Is an automobile extended warranty worth getting?

My car is a 2001 Camaro Z28, it has 154,000 miles. this is what the offer covers at a price of $2,700 for 5 years or 150,000 miles, financed with 0% interest and no deductible. It covers me nationwide and free rental and towing.





ENGINE: All internal Components of the engine that require lubrication for operation. Oil pump (on select policies), Harmonic balancer, engine block, cylinder heads, oil pan and timing chain cover are also covered only if damaged by failure of a covered internally lubricated engine Component.





TRANSMISSION: All internal Components of the transmission that require lubrication for operation. Torque converter, vacuum modulator, accumulator, electronic shift control unit, transmission case, and oil pan are covered only if damaged by failure of a covered internally lubricated transmission Component.





WORN COMPONENTS: On select policies, components that have failed to perform the function for which they were designed due to wear that is determined to be in excess of the manufacturers specified tolerances for wear based on normal Vehicle operation and maintenance as required by the manufacturer.





DRIVE AXLE (FRONT AND REAR): All internally lubricated Components contained within the drive axle housing, plus the following: locking hubs, drive shafts, center support bearings, universal joints, constant velocity joints (except when damaged as a result of a torn or missing CV boot). Drive axle housing and differential cover are covered only if damaged by failure of a covered internally lubricated drive axle Component.





COOLING SYSTEM: Engine cooling fan and motor, water pump and fan clutch.





AIR CONDITIONING SYSTEM: Condenser, compressor, evaporator, expansion valve and blower motor. The following Components are also covered if required in connection with the repair of a listed Covered Component: accumulator/receiver dryer and orifice tube.





FUEL SYSTEM: Fuel delivery pump, fuel injection pump and metal fuel delivery lines.





ELECTRICAL: Alternator, voltage regulator, starter motor, starter solenoid, ignition switch, front and rear window wiper motor and switch, washer pump and switch, headlamp switch, turn signal switch, rear defogger switch, heater/A.C. blower speed switch, power window motor and switch, power door lock actuator and switch.





4X4 TRANSFER CASE: All internal Components of the transfer case that require lubrication for operation.





SEALS %26amp; GASKETS: Seals and gaskets are replaced only as part of repair or replacement of Covered Components. Leaking gaskets or seals are not covered. On select policies, head gaskets are excluded from coverage.





BENEFITS: Instant electronic claims process, claims payment made directly to repair facility, no surcharge for 4x4 or luxury vehicles, rental car benefit, towing benefit, no deductible, transferable %26amp; renewable, 30 days %26amp; 1000 miles 鈥?benefits begin on the 31st day and 1001st mile from the product warranty purchase date, nationwide coverage available at any qualified repair facility.|||unless your buying a brand new "first year" car like the 2010 Camaro





it's not worth the money|||Warranties are worth getting, but you have to do your homework on the warranty company your interested in. Check the Better Business Bureau for the rating of the company lots of companies don'tt pay for repairs when the time comes for example fedlis has an F rating for not paying for their customers repairs. I just avoid all the warranty companies and get warranty Straight from the dealer yea might cost more but they pay up when the time comes|||Warranties like this are never worth the price. It's gambling your money on hoping the car breaks down. If it doesn't break down you've lost everything, If it does break down you're hoping the repairs cost more than $2700 and that this warranty will cover the expenses.





That's a huge gamble. I would rather keep my $2700 and invest it. Then if and when my car does break down I can pay cash to have it fixed. Keeping me in control of my money.





These companies always have a way of denying your claim. You also have to find a mechanic who is willing to work with this warranty company to get his money. If they don't pay him then he comes after you.|||If during the period of time specified, you have 2700.00 worth of repairs done, then it's worth it...





Usually they don't offer an extended warranty on a car where the mfg warranty has expired, or over 5 years old...





and the mileage requirement normally runs to a mileage...like 5 years, or until odometer says 150,000 miles...|||All experts tend to agree that extended warranties are a bad deal.





Way overpriced, most of the price is commission to the seller and very small amounts end up paying for claims because they find any and every reason to deny them and their contracts are written to protect them, not you.





Best bet is to set aside %26amp; invest the money and use it as a repair fund.





I used to do this with everything that I bought where an extended warranty was offered. I would set aside 50% of the cost and with multiple items, I never had a claim. Even years later.