Totaled vehicles in your collision shop take time and energy away from your daily operations with little to no return. Some dealers are finding an additional source of revenue by providing a service for insurance companies by wrapping the totaled vehicle in a plastic crash wrap.
Wrapping the vehicle in plastic helps protect it from the elements, such as wind, rain, and ultraviolet rays, which can cause additional damage. We tend to wrap vehicles waiting for repair in our shop, but we seldom wrap totals. However, the same benefits apply to the insurance company. They get a protected investment and a higher salvage price.
Insurance companies who see this benefit have been willing to pay $199 to $499 per vehicle. The plastic collision wrap runs about $30 to $80 for a 100-foot roll. Add a half hour of labor for wrapping the car, and you can see how the profits add up. Some of you may be wondering, why not shrink wrap? Although shrink wrap provides better protection than plastic wrap, it comes at a much higher price.
We can now look at totaled vehicles as a source of revenue and not a burden on your collision center.
For more collision center ideas and best practices, check out our NADA Collision Center 20 group at www.nada.org.