In this paper, we investigate using Ultra-Wideband (UWB) technology in vehicles for localization as well as other possible infrastructure-free applications.To that end, we first introduce the on-vehicle UWB anchor system configuration, then conduct a theoretical analysis to shed light on the capabilities and limitations of using UWB anchors with this configuration. Extensive field trials performed verified the validity of the analysis conducted.Finally, Virtual Pedestrian Traffic Light (VPTL), an infrastructure-free pedestrian traffic light system is introduced as an example application of the presented approach.