Regardless of how long you intend to keep your car and/or whether you intend to mod it (and void the warranty anyway); never, never, never buy an extended warranty.
Keep in mind that the insurance company (and that's all it is) is in business to make a profit and the only way it can make a profit is to charge enough in fees to cover all their potential exposure and then some plus these plans are a HUGE profit center for the dealer (and that profit has to be covered as well).
You will be far, far better off to take whatever money you would spend on an extended warranty and put it in the bank...better yet, have a real emergency fund so that paying for vehicle repairs when they happen aren't a big deal.
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Robert
-My Basset Hound Is Smarter Than Your Honor Student and Barack Obama -
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