Your thoughts about not buying an extended warranty.

[axg1040]

I am in the process of looking to buy an X5 in the next 30-60days.
I have spent the better part of the last few days reading all the posts about extended warranties.
So I read in the April Consumer Reports Auto edition to take what you would spend on a ext. warranty and put it into a money market or mutual fund. When you have a problem you can draw from that account.

Lets forget about the current state of the investment market for the sake of this post. The article also only recommends this if you buy a "reliable" vehicle. I know there are very strong feelings about Consumer Reports and I am just curious about what people thought about this idea.

Is there anybody out there that has well exceeded the cost of their extended warranty in repairs that were covered?
Since I am looking at both used 3.0's and 4.4's I would like to hear from any owners of these.

My plan is to buy an 04 or 05 X5 with less than 40k miles and keep it for 4-5 years. I only put about 9,000 miles on per year on my vehicles. Short commute to work.

Any feedback would be great.
Thanks.