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Depends on what the extended warranty covers, if you can guarantee it covers all engine and powertrain related parts including timing chain, oil filter, turbo oil line, then you might be ok. 07-10 MCS is known to have some major engine issues which you can read about on this forum.
Run!
To be honest with you the 2007 was the worst year for the N14 engine...do your research. Starting in 2011, the S model switched to the N18 engine.