The point is the total loan amount is mostly irrelevant if the term is flexible. It used to be that 6 or 7 year car loans were basically unheard of... 3 or 4 years was the norm.

Another example is most people never pay off their mortgage. Some refinance, often several times, resetting the term. Eventually they'll sell the house, pay off the mortgage as part of that transaction, and keep the change (if they're lucky.)