Ryzen wroteNot too bad of an idea. This whole like racing app community has been blood sucked for literally ages. I can almost guarantee that this has been done. It does seem like a fun project to do in someone's spare time or just as some sort of entertainment, but honestly I don't see this as being something that will make it THAT big compared to other mobile games. If you do decide to work on this project I'd like maybe some updates or previews as to what's going on if you don't mind.
Good luck with this my friend.
As for pink slips, I think that pink slips will be more of a way to boost your friends to get better cars and other such things like that. Like for example if I was a high level and had the best car and my friend just started off I could then race them and pink slip my car (losing intentionally) just to give the other a car that is considered "OP".
Couldnt agree with you anymore, if its executed well enough I think it has huge potential. I mean, lower the cost for in app purchases, as thats where the money is at. As for the pink slips, all youd need to do to prevent that is make it so you cant race friends, just set times people have made.