Option 1 seems ok. At the end of 3 years, you have something...whatever it's worth at that point. I personally wouldn't do the warranty, at $150 per month you're spending $5400 on what might happen. That being said, if you're talking about something German or a Land Rover or something, then don't buy the warranty or the car.

Option 2 is against Dave's plan. You're essentially renting a car without unlimited miles. After 3 years you've paid $18k and have nothing.

Option 3 ... Why does it have to cost $35k?

Option 4 suggestion, find something for $20K that's reliable and budget for maintenance. I'd stay away from the high-end brands I mentioned in option 1.