While you and I wouldn’t do it, lots of people will. It’s an extra $250 a month to spend on other junk. That $250 might be enough to get the heated massage seats in the $90k SUV they want, or automate their homes so they can turn off the lights from another country that they can’t afford to visit with their $1200 smart phone.
Consumerism is limitless, it’s insidious, and a lots of people love the joy of a new purchase.
So yeah, I see people doing this.
Edit: People are buying cars at 32% interest, another 20 years on the home loan won’t be a big reach.