Have you've ever wondered what it feels like to pay off a loan?
In most cases, people take on a loan to pay for something they want (or, something they consider a need, but I won't go down the road of explaining the difference since those subjects are covered on most financial blogs). So, you basically ask someone (the lending party) to pay for your want and the next couple of years you are paying for your want every month and you pay a little bit extra because the other party wants to be rewarded for the fact they did have the money for your want when you wanted your want but you didn't have the money for it. Sounds fair enough, and at least you get to play with your new toy every month. Unless it's a brand new sportscar which you already wrecked. In that case, you're probably pretty much feeling the same as me.
