I am working on a game that has racing in it. It is hard work getting the physics right and lining up roads on the terrain. Its a matter of time, not just skill however.
If you are determined to get your F1 racing game done then I'd advise that you learn the basics of DBPRO
here and
here first. Try to memorize the Core, Basic2D and Basic3D section of the help files. After that you will have a good idea of how to program your game without much questions; initially.
Then take a look into
Sparkys Collision which will assist you with collision for the driving. DarkPhysics vehicle engine is OK as well, if you like using DarkPhysics.
As for modelling, it is down to you what you want to use; I use
Blender, and
this page contains great video tutorials, and my
DirectX export guide will help you get the models into DBPRO.