I was in the used car business with my own small dealership for many years and I sold many warranties. You have to realize warranty companies are there to make money! Overall, they always will. What you are buying is something that you may come out ahead if and only if you have far more issues than the average.
You are far better off to take $50 per month (or $100 if you have a high repair cost car) and tuck it away into a savings account so you have an emergency fund for repairs. Or if you have enough in your regular emergency fund just realize you may need to dip into it for a large repair bill.
Also keep in mind that you are financing the warranty if you add it to the car loan. This means two things: 1) you are paying interest on the warranty for the entire period you owe money on the car (even after the warranty expires) and 2) adding this warranty to the loan makes you (probably even more) upside down in your car loan unless you are paying 30-50% down. So you buy a car for say $20k, pay $2k down but add $1500 warranty + $500 gap + $1000 tax title & license and you are now financing $21k on your $20k car with $2k down and as soon as you buy it, it is worth maybe $16k wholesale/trade in so you are immediately upside down by $5k.
We sold warranties and we felt good about it because our main customer base were lower income lower credit score and almost all lived paycheck to paycheck, so a $1000 repair would literally sink them to the point they would lose their car and possibly their job (and of course stop making their car payments). But if you have some fiscal responsibility you definitely don't need one.
Think about it this way. If you had a fleet of 100 cars you would never buy warranties on all of them because you know that your costs to fix would average far less than what the warranty company would charge you (since they are making a profit).
You will be far better off researching repair history (costs & occurrences) for the make and model you are interested in and then analyze the carfax or autocheck report of the vehicle you want and take it to a trusted mechanic for a thorough inspection.
In my opinion most warranties are not worth the cost anyway. Warranties and insurance policies should only be used when the risk of loss is far greater than you can afford. A $50 warranty on a $500 TV is worthless since the most you will be out is $500. A car warranty is not worth much since the most you would be out if a motor blows is several thousand dollars and less than the cost of the car. But regular car insurance or health insurance is imperative to have since you could be saddled with a $500,000 (or more) bill for a liability payment or hospital bill.