Kelley Blue Book estimated the average transaction price (ATP) for new vehicles in the United States climbed to $34,112 in January, representing an increase of $919 or 2.8 percent year-over-year.

To keep that metal moving out of dealership inventory and into finance company portfolios, the easiest path continues to be an avenue that worries industry analysts a bit — lengthening contract terms. More consumers have a set amount available to spend monthly on a vehicle so oftentimes terms are lengthened to meet those parameters.

“The intense focus on the monthly payment and the result of that, extended loans, those are things we pay attention to,” Autotrader senior analyst Michelle Krebs said during a conference call this week.

“We have some concerns around the very long loans because it has implications in the used market and people being able to get back into the market,” Krebs added.

“With all of the new safety, fuel economy, emissions regulations, there will be automatically increased costs in the vehicle that have to go somewhere,” she went on to say.

According to its third-quarter data, Experian Automotive pegged the average term length for a new-vehicle contract at 67 months. The average term for a used-car contract ticked up to 63 months. Those terms left the average monthly payment at $482 for a new model and $361 for a used vehicle.

Kelley Blue Book senior analyst Alec Gutierrez explained the dynamics of the vehicle-buying process have changed significantly during the past five years. Gutierrez pointed to the volume of data that shows shoppers spend 12 to 18 hours researching vehicles and their financing options before ever entering the dealership.

It’s why Gutierrez said when consumers are asked about pain point when buying a vehicle, it remains the negotiations over financing; again pointing to the need to meet monthly payment demands.

“Consumers walk in with a pretty solid expectation of what they’re going to expect to pay,” Gutierrez said during this week’s call. “Because lenders have grown more comfortable extending loans to 66, 72 and more months, I think consumers with relative ease have found ways to finance their purchase.”