Though it would have been a good idea to take the position because its a way of developing your leadership skills that you may need later and will also add to your leadership experience incase you want to add it to your CV.

I agree with what you've said above, I was a Classrep throughout my undergrad days. In as much as I like taking and playing leadership roles, but I also like being realistic and I like producing results. Taking the responsibility would put me in a very tight corner of my life.
Thank you for stopping, I appreciate your remarks.