Asexton, do a search on my screen/login name and see how many posts I have put up on this topic. I did a lot of research. Its really tough to figure out the right way to go. I bought a contract with Fidelity Warranty Services after my CPO ran out. I bought it thru the dealer. I was able to make monthly payments on it and cancel when I wanted. I actually got a refund on it when I canceled it. I kept it until I could scrape up the money to do the IMS.
In retrospect, the only reason I would keep it is for the other potential modes of failure that are documented for the M96 engine. But in doing as much research as I did, I learned that you REALLY gotta go thru these "Extended Service Contracts" (and that is what they are called by the way, not "extended warranties") with a fine tooth comb. There is Wear and tear coverage as opposed to Mechanical breakdown coverage, etc. There's a big difference. On top of that I did read some horror stories about companies flat out not wanting to pay and coming up with the most clever reasons not to. All that being said, when I can afford to buy another one, I just might. After doing some more research. Strictly and ONLY for the Powertrain coverage. In terms of "The Big One", lets face it, what we're talking about in these cars is the engine or anything powertrain related. IMO. Then pray the company you ended up selecting will actually PAY.