[FraaJad]

the buyer should think about the replacement value of the vehicle.

I might spend $1500 on my 12 year old car (which is "only" worth 4200 according to KBB), instead of spending lot more money to get a different used car with unknown issues or a hefty monthly payment.

[dbcurtis]

Plus insurance will go up, and in California the annual license fee is partly based on the value of the car.

[brianwawok]

My modern car made my insurance rate go down. Most of your rate is about damage you cause to others. Modern safety features, at least according to my insurance company math team, make my car less likely to hurt someone else or their car.

[zepearl]

> My modern car made my insurance rate go down.

Same here. Bought a Volvo which is more expensive and has a more powerful engine than the Opel that I had before for 16 years, I have even added some options to the insurance coverage compared to before, but now I pay 300$ less than before => of course I'm happy, but it's weird, didn't expect this... .

Maybe the car's brand has as well something to do with it? Maybe some statistics show that for some reason Opel drivers cause more damages or whatever... . Misterious... .

[Scoundreller]

In an efficient market anyway, and auto insurance definitely isn't where I am!

Theft premium stays the same, even though replacement cost has gone down and it's less valuable as a target. You'd think other cars becoming safer on average would decrease the risk of getting into accidents at their fault and at my fault, but the comprehensive premium stays the same on a now older car.

I find it hard to believe that auto thieves somehow avoid the equally dense town 1hr down the highway.

[Johnny555]

If you have an old enough car, and are willing to pay the cost to replace if it you get into an accident, you can drop the comprehensive and collision coverage. This makes my old 2003 car cheaper to insure than my 2020 car, though I'm taking a bit extra financial risk, so it's not an apples to apples comparison.