Vehicle Service Contract Enhancements Include Vehicle Reclassifications, Plan Expansions and Product Discounts
Preferred Warranties Inc. (PWI), a business unit of global vehicle remarketing and technology solutions provider KAR Auction Services Inc., d/b/a KAR Global (NYSE: KAR), announces comprehensive enhancements and savings on protection plan offerings, supporting dealers as they resume sales in the face of COVID-19 retail slowdown.
“Many dealers are feeling the pain as COVID-19 takes its toll on the auto remarketing industry,” said PWI President Edmund Field. “To better support our dealers, we’re adapting our offerings to deliver extra value to them and their retail customers, providing more at lower price points to accommodate tighter budgets.”
PWI program enhancements include extended terms and mileage bands to the popular Premier Plan, representing a lower cost to retail customers. Furthermore, the company is reclassifying eligibility requirements of many makes and models, generating cost savings by decreasing class qualifications in some cases, and adding plan qualifications on vehicles never before accepted.
“Retail demand is still recovering, so standing out from the competition will be key to ramping up sales,” said PWI VP of Sales Allison Marley. “PWI’s program enhancements will help dealerships distinguish their offerings from others while bringing retail customers confidence about their purchasing decision.”
To provide dealers with further relief, PWI is launching a promotion offering discounts on some of PWI’s most popular products. From June 1 through July 31, eligible dealers can save between 10% and 15% on Base, Powertrain and Plus extended service contracts. To view additional promotional details, including terms and conditions, please visit https://www.preferredwarranties.com/.
“PWI’s enhancements were designed to support our dealers with exactly what they need to jumpstart their sales and deliver extra revenue in the F&I space,” said Field. “Providing innovative solutions and the best customer experience in the industry is our primary focus—and through these relief offerings, we’re empowering our dealers to pay it forward to their customers.”
Established in 1992, PWI administers extended service contracts to more than 3,000 independent automotive dealers. With a full menu of service contracts and extensive coverage levels, PWI products drive high levels of confidence, value, and revenue for its authorized dealers. To supplement product offerings, PWI provides best-in-class service and training to assist dealers with selling these products, which in turn creates value and enhanced satisfaction for their customers. For more information, please visit www.preferredwarranties.com.