2016 Buick Encore - Warranty

I just bought my 2016 Buick Encore that has factory warranty until 2022. I also bought an extended warranty that will go up to 2024 or 80,000 miles.
My question is do you really think I need the extended warranty and what kind of problems do you see with this cars year, make and model?
I still have 2 weeks to cancel the extended warranty.

Generally extended warranties, even if you get a repair covered by the warranty, pay out less than you paid in. You may well be better off putting that money into a savings account, with automatic contributions, for possible repairs, if not needed, that money can go to your next car purchase.
Warranties do not cover maintenance, oil changes, brakes, tires, coolant service, transmission service, etc.
As far as your vehicle, problems and longevity depend a lot on how the previous owner treated and maintained it. Unfortunately all used cars are a gamble. But the majority of the used cars I have purchased have been fine.