The price for an extended warranty seems kind of out of this world for a private party purchased vehicle, tell me what you guys think, and is it worth it...

The max they would cover is an 11 year old car with max mileage of 80k. For a 1992 500SL with 80k miles they quoted $5215.00 for 24 months/24k miles. This seems insane, but given the cost of repairing this auto, is this worth it? What do you guys think?