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Sophisticated cars, sophisticated risks

Automobiles are more high tech than ever, but they also usher in new financial risks for their owners.

By Kathleen Tierney | Updated on July 24, 2015

Few machines have become as high tech as automobiles. In just the last decade, fully electric cars have become a viable alternative to gasoline-powered vehicles, as the range of semi-autonomous crash-avoidance features in luxury autos widens. While these developments are good news from a safety and environmental standpoint, they bode new financial risks for owners.

Crash-mitigation technologies tend to show up first in high-end luxury and performance cars made by Mercedes, BMW, Ferrari, Lamborghini and Tesla, among other top brands. Such pricey vehicles involve pricey repairs when damaged, however. That’s because of the expensive computers, sensors and data analytics software that are weaved into the automobile to operate the semi-autonomous functions.

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