Look into a 1/2" impact, and a 1/4" air ratchet. The 1/2" Earthquake is very good, as is the 1/4" Earthquake air ratchet. Both from Harbor Freight.
One thing about air ratchets is they SCREAM. They are very loud. In fact, the newer "quiet" impacts are actually considerably quieter than the smaller air ratchets. Harbor Freight's 1/4" Earthquake ratchet is quiet, only reason I bought it.
On my cars, I tend to find a lot of 8, 10, and 12mm bolts. Then a few 15, 16, and more 17, 18, and above on the drive train.
I bought the 1/4" ratchet specifically for working under the hood. I have the 1/2" impact for the suspension, wheel, and sub-frame stuff.
Yes a good 3/8" might replace the majority of the 1/2" impact. No argument there. But you still need a 1/2" impact. And the 3/8" impact won't do what the 1/4" air ratchet can do, and get in. I don't do this full time, just at home, so I wanted to minimize my investment and space that my tools take up.