The average term for a new-car loan is now 68 months and some loans stretch as long as seven years.

You know what, let's read that again.

The average term for a new-car loan is now 68 months and some loans stretch as long as seven years.

A smidgen over 5.5 years to pay off a car?

Now let's read this:

http://www.thefiscaltimes.com/2015/07/29/Here-s-Why-Americans-Are-Keeping-Their-Cars-Longer-Ever

The average length of ownership of a new vehicle reached 6.5 years in the first quarter of 2015, more than two years longer than in 2006.

Ooooooooof. That matches up for not quite a year of being paid off before jumping onto a new model.