Some people feel that they get great value and peace of mind with those extended warranties and extended service plans. Some people feel that those are rip-offs where the dealer gets to take more money from you, and you have nothing to show for it. Depending on terms and conditions, you're essentially buying a coupon for work to be done later......and if you never get that work done.......you're at a loss.
Back in 2007, I bought my F-150. It came with a 5 years, 50,000 mile warranty. I did not buy an extended warranty or service plan. 11 years later, I still haven't had to do any repair work to the engine, transmission, drivetrain, et cetera. So if I did buy whatever the plan was, I would have lost out on $$$XXXXX that the dealer was charging.
Best advice is to carefully read all the fine print before you buy something like that. See what is covered, what is not covered, and what the exclusions are.
Do you really think that you can wear out the car within 8 years, and that it will be worth it? Or is it a "service" plan where you are simply paying in advance for 8 years worth of oil changes? Transit Connect oil change light will activate between 7,500 - 10,000 miles. 20 oil changes, @$19.95 is worth $400. What is covered? Do you pay $$$XXXX, and they "service" your car with oil, brakes, tires, transmission fluid exchange......all at recommended service intervals? I can see how they might flush your transmission at 100,000 miles. Maybe even flush your coolant at 100,000 miles. Within the first 8 years, your battery will probably still be good. I doubt if they will give you 3 sets of tires. Your brake booster / master cylinder & calipers (which may never need to be exchanged within first 8 years of ownership) may be covered.....but pads and rotors are a wear item. Same way the wiper motor may be covered, but wiper blades are not. They will not give you new wiper blades every 6 months. I doubt if the service plan will even include new air filters with every oil change. Pretty sure that they will add water to your wiper washer fluid reservoir. See if the spark plugs are covered for up to 8 years.......because I doubt if you'll need new spark plugs within 8 years.