I read the terms that says that Avis points are good only 60 months after they are earned. Is this correct? If so, then a new rental won't extend points already earned, which is the case with most airlines.

What is the expiration of Avis points?
Are the Avis banners correct in that there's a minimum of 100 points per rental, meaning 7 (or fewer) rentals will get you a free day?

EDIT: See Anyone been successful in having points restored

Seems to be you have to rent at least once a year and use up your points within 60 months of earning. Another way to calculate is that you have to rent 7 times within 5 years to earn a free rental day assuming that you get 100 points per rental.