One problem related to power steering failed has been reported for the 2002 Toyota Camry. The most recently reported issues are listed below. Please also check out the statistics and reliability analysis of the 2002 Toyota Camry based on all problems reported for the 2002 Camry.
I purchased a 2002 Toyota Camry 3 years ago at 115,000 miles. I now have 205,000 as of the date of this letter. Last spring, the power steering failed in cold weather and there was a sqeaking noise behind or around my steering wheel so I replaced the pump. It warmed up, so I couldn't test the result. This winter, the problem is much worse and unsafe, so it wasn't that. After nearly hitting a car because I could hardly come out of my turn, I took it to the Toyota dealership on 1/17/12. They kept it overnight to experience the problem. They said they would start by replacing the steering column u-joint for $510, but would not guarantee it. I asked 5 other mechanics who said that it can't be that if it only occurs in cold weather, so I told them not to do anything. I'm bringing it back to my town to have others look at it and fix it. Most of them feel it is the rack, or, just goo'd up power steering fluid, which they will start with, at a cost of only $50 to drain and refill. I have had rack quotes of $880. This car has always been well maintained and I plan to keep it for 500,000 miles.