Loans is how a lot of people get cars they can't afford. Most of us (in the same age group as you) are able to financially just hop out and buy things without much effort because we're financially set. The people getting loans are also (in my opinion) why car prices have skyrocketed in the past 10 years. They think about 'how much does this cost per month' and not 'how much is the total cost of this'. Us driving sh1t cars for a decade and saving money, is why we can now afford things without worrying about costs.
But there's also a large number of young adults that have landed in amazing financial status, or come from a family in that situation, and I say good for them. Someone was working hard for the money they made and they deserve to enjoy every penny of it - but I still think most are from enormous auto loans. Oh and also, a lot of young adults are staying with their parents now and not having to worry about rent/mortgage. That alone is more than enough to cover the cost of a payment.