3/8" huh? That's an old one. The newer stuff usses mini-led's.
Are you involved in an affair, divorce, lawsuit or know anyone who has subversive opinions about the government and it's actions or policies?
If so it's probably an investigator's recorder/tracking device power on indicator and infrared transmitter able to follow your every word, movement, and thought while sending the info to the big black cube in Sunnyvale, CA (NSA) by satlink.
If you're lucky it's leftover from investigations of your previous owner and just not yet recovered from the car. If you're not lucky and you are the subject then............Seeeeee Ya!