Normally, I would agree with that sentiment, but… never say “never”.
God must have been looking out for me, because I bought GM’s extended warranty when I purchased my '81 Chevy Citation. That car was repaired so many times under warranty over the ensuing 4 or 5 years that GM almost surely lost money on my particular car.
You’re always going to find someone somewhere who’s actually made out by buying an extended warranty. But the VAST VAST majority of people who do buy them never get their money back. You didn’t know you’d need the extended warranty when you bought it.
Which is why I stated that God must have been looking-out for me.
And, even though I bought–and used, to my advantage–the mfr’s extended warranty on that Citation, I never again bought an extended warranty.
For that matter, I never again bought a GM product. 
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And that applies to legitimate extended warranties. Most third party warranties are worthless, regardless of whether there are problems or not.
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