Put your money in a savings/repair fund and every time you buy something add the amount they want for a warranty to it. When something breaks (very seldom), fix it with that money. When you retire, take out all your extra money (lots of it), and buy a big boat!
Amen.
People seem to forget that warranties are sold solely to make a profit. In order for the warranty provider to make a profit they have to keep their claim costs low. They do this by limiting what is covered and what is paid out for covered items. The sales hype sounds great - "
bumper to bumper for 100,000 miles" - who doesn't like that idea? The reality is that many things are not covered, deductibles and payout limits apply, and getting service / claim processing can be difficult and tedious.
No matter how good you think a warranty is, always remember that they will make a profit at your expense. Sure, you could be the lucky guy that is the exception to the rule, and maybe they replaced your 10-year old truck with a brand new one for free just because the paint was no longer shiny, but your chances of this happening are about as good as winning the lottery. Put your money in the bank and turn the odds in your favor.
Also remember that we are buying Toyota here! My 2002 Tacoma had 106,000 miles on it and was wrecked 4 times but it never had a single defect or need for maintenance other than the routine stuff.