It's not really about the payment for many, but how many years you pay on it. Most don't keep them but a couple years or so before buying new. It's like leasing a boat, then when they're done, they sell and just out their payments over how ever many years. Personally, we went the other way, keeping Ron for the long haul, so I refi down to 7 years at a crazy low rate, y'all don't want to know what my payment is. Lol