extended warranty

[Bill Green <wgreen@xxxxxxxx>]

Extended Warranty?

My 1995 325iS automatic's manufacturer's warranty
expires in November.  The car has 13,000 miles on it
and has been trouble free.  My dealer is offering an
extended warranty for $1144 for an additional
3 years/100,000 miles.  It covers most everything with
no deductibles or co-payments.  The charges go directly
to the warranty company and I would have no out
of pocket expenses.  The warranty is transferable
for a $50 fee if I sell the car privately.

I drove the new 3 and 5 series and don't like
them as much as my 325, so I am motivated to
keep and love this car for a while longer.  At least
until the new coupes and convertibles arrive
next year.  If I sell it, I will do so privately since
the car is likely to remain in pristine condition
with low miles even though I do go to performance
driving school occasionally and I do enjoy driving
the car rather than just letting it sit in the garage.  

Do any of you have any experience with problems
with such a car that has racked up more miles?
Anything I need to watch for?  Any experience,
good or bad, with extended warranties?  Your
comments would be helpful since I am truly
on the fence about buying the extended warranty.

Dana, thanks for your comments earlier. 

Bill
wgreen@domain.elided
1995 325iS (my treasure)
1969 GTO coupe (my first car, purchased new)
1998 Maxima (my "beater") 

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