Rfactor the ONLY racing simulator
For any of you who love your racing games gt5, forza etc then you may well know of rfactor. It's a race simulator which can be modded so there are all kinds of race classes, from F1 to 2cv's!! It's awesome, you can't get bored as there's so much choice.
The only downside is it's not a console game (PC only) but as it is a fairly old game the pc requirements are not demanding so most machines will run it, so you don't need a 2 grand gaming pc to play it.
Search youtube and you will get a taste for it.
For an idea of tracks, and mods available.
I'm also good friends with the founder of this site so give it a look
We run all kinds of mini championships, one event specials and full length seasons mirroring the real event eg. BTCC.
Like I say well worth a look if you like your race sims.