As the core of reproducing the real nonlinear phenomena of traffic congestion, the investigation of car-following models, which take into account human factors, has consistently assumed a central role within the domain of transportation science. Nevertheless, it is noteworthy that prior studies have invariably employed a fixed value for driver reaction time to stimuli, whereas it is imperative to recognize the dynamic nature of this parameter, closely associated with the instantaneous vehicle speed. To address this issue, this paper constructs a dynamic sensitivity coefficient (DSC), and further develops a nonlinear human factoring car-following model to reveal the relation between the reaction time and the current speed. Firstly, the linear critical stability condition and the mKdV equation of the model are derived by the linear stability analysis and kink–antikink solution analytic method, respectively. Then, the numerical experiments are conducted to demonstrate that the proposed model is more practical and can reproduce the real driving behavior and phenomena. Finally, calibration and validation results exhibit the actual vehicle trajectory can be simulated well.