Extended warranty question

[Parrothead]

Last week I signed the bottom line on the purchase of a new 2006 X3. It's being special ordered, so I have about 7 weeks until delivery.

Since I may keep this car for a long time, I am interested in buyng an extended warranty. The salesman quoted $3500 for the BMW version, but offered as an alternative an extended Toyota warranty for $2500 (the same dealer operates a Toyota dealership next door). He said that the BMW mechanics would still be the ones who do the work, ven under the Toyota extended warranty.

I'm also considereing other third party extended warranty options. In running a search on this site, I see several references to extended warranties from Warranty Direct.

I'd very much like to hear thoughts and comments (both good and bad) on these and any other alternatives. Thanks!