Well its a really simple method actually and needs no complex coding or anyhting but here is a quick rundown of how it works
The Material is a Simple transparent gradient texture added to a unlit material with transparent blending, the light color precision effect is achieved by PSXURP shader provided by Kodrin (github) i have a proper video on youtube how to set it up and use it for your unity project
Here are the light models and materials and everything ull need to set it up (shader isnt included tho)
carmodel from sketchfab - https://skfb.ly/o9MCx