My 2003 Ranger had 31,500 miles on it when I bought it, I opted for a 3 year/36,000 mile extended warranty from Ford. I had to pay a few bucks a month extra for it, but I feel it's worth it...have you priced out a new motor or tranny lately ???? Besides, it kind of makes me feel like I got a new truck with a 3 year warranty.
I know a guy who's engine went out on him, the mechanic's bill was around $5,000 by the time they got done with him.....my sister recently had to replace her transmission in her van...total cost ?? around $2,000. Seriously, have you priced out any mechanical work, nothing is cheap anymore. In my case, I'm not able to do any heavy mechanical work myself, so I have to rely on mechanics......so having a warranty makes sense to me.