Last time I bought an extended warranty was in 1986, a 3rd party warranty that the company refused to honor when the vehicle got "beyond its expected life" (in their opinion) at around 150k miles. Since then I've always turned down such contract offers.
But this spring I intend to order a Jeep Grand Cherokee just the way I want it, and I will absolutely get the Chrysler lifetime maximum care coverage! I'm planning to keep the Jeep for 15-20 years and there is no way imaginable that it could be so trouble-free as to never cost me at least $5k-$10k in unexpected repairs during that time. Why, just in the past 9 months I've spent $3000 sealing up 7 fluid leaks on my '08 Highlander (160k miles on it, mostly towing miles BTW). Chrysler's contract covers gaskets and seals. And like someone else posted, if at some point the repair estimate exceeds the vehicle's value they will pay me the value... there's a few thousand bucks right there, most likely. To me, buying this contract is a no-brainer this time around.