Should I cancel Toyota extended warranty?

[Bikerboy89]

I agreed to buy the Toyota extended warranty with my 15 Yaris for $899 but I still have a week to cancel it for a full refund minus $50 fee. The car still has warranty for 1 year or 12k miles and then powertrain warranty until 2022 I think. I'm thinking I could save a lot and cancel this warranty because I've seen Yaris on autotrader with 200k miles + so I am gaining confidence in this car quickly. I tend to baby my cars too and I will be changing my oil every 4800 miles with good quality oil and filter.

$899 warranty through 2025 or 120k miles
$0 warranty 12k miles or 1 year ...then powertrain until 2022.

I think the reason I did the warranty was because I just had my Chevy HHR timing chain break out of nowhere so I felt it was gonna happen again, but now I'm thinking I'm gonna be safe at least until the warranty would be used to anyway.