I have mixed opinions, I have an extended warranty 75,000 / 60 months w/ $100 deductible.
1. I have used it many times, I figure that I have saved about $400, (roughly $1200 is what I paid for the warranty) so I am still $800 behind. But it is nice knowing it is there.
2. Not all Ford Dealerships are recognized by the warranty companies. Last summer on vacation my thermostat and water pump went out. So I took it in to a Ford Dealer in Dallas, assuming that any Ford dealer can work on my truck. I showed them my warranty and they said that because it was a holiday, I would have to pay the entire balance and take it up with the warranty company for reimbursement. I was pissed, but it was Memorial day weekend and nobody else was open and I had to be back at work on Monday. So $800 later I had a new water pump and thermostat
I know $800 is way too high, but we will get into that later, the dealership assured me that was the going price and I would be reimbursed, so out comes the VISA!
I get home after memorial day weekend call the warranty place, they say they only pay $250 for water pumps and thermostats. They have a chart saying how much maintenance should cost for different types of parts and jobs. Subtract my $100 deductible and I get a whopping $150 check 4-6 weeks later.
So, I call the dealership, Grand Prairie Ford in Grand Prairie Texas, just outside of Dallas, I-30 and Beltline. Talk to the service manager, blah, blah, blah he has to pay his mechanic's time and a half so that is why I paid $500 in labor. I made it all the way to the General Manager, but basically I was screaming through a phone, so all he had to do was put me on hold and ignore me, so the issue was never resolved. I lost out on $550.
If you use the extended warranty I think it is worth it. If you do alot of your own maintenance, then you can do with out it. Just read the fine print!!!!!!!!!!!!!!