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 family of companies and currently provides a full line of extended protection plans for pre-owned vehicles, available through quality dealers in a growing number of states.
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 decided to start his own company. In 1992, Preferred Warranties, Inc., 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 Preferred Warranties plans.