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I see advertisements for Garmin and TomTom GPS units, with lifetime
map updates and same size 5" screens for the same prices. Does
anyone have any experience with both units that can state a preference?
Also, I wonder how the companies behind the units are set financially,
a lifetime update is meaningless if the company goes out of business.

Actually, the "lifetime update" (for Garmin) applies only until the hardware
becomes obsolete, or the map data is supplied in a form that the unit can't
handle. This could be one years, or 20 years.

I have the Garmin 3790, which I got on sale at Costco. Terrific product, but
the software has some surprising rough edges that should have been "sanded
down" years ago. I suspect the TomTom isn't much better or worse.

One of the things I like about Garmin is the optional "beanbag" dash mount,
which for most (but not all) users works much better than the windshield
suction cup. (I don't know if there's a comparable mount for the TomTom.)