CARMEL, Ind. –
Preferred Warranties Inc. (PWI) is looking to give dealers more tools as they resume used-vehicle sales in the face of a COVID-19 retail slowdown.
The KAR Global business unit on Wednesday announced comprehensive enhancements and savings on protection plan offerings.
“Many dealers are feeling the pain as COVID-19 takes its toll on the auto remarketing industry,” PWI president Edmund Field said. “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 highlighted that 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,” PWI vice president of sales Allison Marley said. “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 went on to mention that it is launching a promotion offering discounts on some of PWI’s most popular products.
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, 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,” Field said. “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 dealers. With a full menu of service contracts and extensive coverage levels, PWI insisted its products drive high levels of confidence, value and revenue for its authorized dealers.
To supplement product offerings, PWI provides service and training to assist dealers with selling these products, which in turn can create value and enhanced satisfaction for their customers.