You have 30 days to cancel on the warranty. I did it on my wife's car after I got the paperwork in the mail and started reading the fine print. Because it was part of the financing, the credit went back to the principal of the loan. GAP is only needed if you are in a situation that your loan ends up being more than what your vehicle is worth, its insurance to cover the "gap" between the two so you wouldn't be out of pocket. Enough equity, you don't need it.
Can I cancel my Ford ESP Contract?
Yes. If you cancel within 30 days and no services have been rendered you can receive a full refund minus a $75 cancellation fee. After 30 days the refund will be pro-rated by time and mileage. If you signed up for the payment plan the documentation charge is non-refundable.
But what really matters is you got a Raptor! And if you are happy with the whole deal and how it went then it doesn't matter what I say or anyone else. Enjoy it!