Possibility to create more than one profile
I have a car and a camper and it would be useful being able to create and use separate profiles. In this way it could be possible to select options associated to a specific profile and also statistics would be more accurate. For example, when I drive my van after having used the car, the expected travel time is always shorter and I arrive later. The opposite when I use the car after a long trip with the camper: Waze expect me to drive slowly and all travel time are longer than expected
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Grey Gel commented
I'd use it to set different passes. On my first car I have multiple highway passes. While on my hobby car I only have a single highway pass.
So when I change cars I might use a highway with my hobby car that could result in a penalty.