Built upon a resolute commitment to improve the image of the independent automobile dealer and deliver outstanding customer service, Preferred Warranties, Inc. (PWI) was established in 1992. In the decades that followed, the company’s dealer base grew steadily as its product line expanded. In 2013, PWI joined the KAR Auction Services group of companies.
The story began in the 1990s when Wayne Herring owned and operated an independent used car dealership near Pottsville, Pennsylvania. He prided himself on the quality of his vehicles and customer service, but he couldn’t find an extended service contract company that was as good.
He wasn’t alone. There was a serious demand among car dealers for reputable extended service contracts backed by good customer service and professional claims handling. So, Wayne started his own company. In 1992, PWI opened with three extended service plans and a commitment to provide the most responsive, courteous, professional customer service that the industry had ever seen. Within a year, enthusiastic dealers in three states carried PWI plans. Today, PWI offers a full line of extended protection plans for pre-owned vehicles in all fifty states.
PWI is committed to quality plans, outstanding customer service, and the professional handling of claims. The company supports voluntary certification of claims adjusters through the National Institute for Automotive Service Excellence (ASE), the most valuable credential available to automotive technicians. Claims are handled by experienced professionals, not a third-party administrator.
Preferred Warranties’ parent company, KAR Auction Services, Inc., is the holding company for ADESA, Inc. ("ADESA") and Automotive Finance Corporation ("AFC"). ADESA is a leading provider of wholesale used vehicle auctions with more than 60 North American locations, as well as an automotive auction platform, ADESA Simulcast. AFC is a leading provider of inventory financing to independent and franchise used vehicle dealers with over 120 branch locations throughout the U.S. and Canada. Together, the KAR Auction Services group of companies includes over 20 businesses that provide a unique, comprehensive, end-to-end solution for remarketing needs.