The Formula is one of the fastest vehicles, with high speed and great aerodynamics. Being a vehicle with low suspension, it works best with relatively-flat surfaces and is better in races, as it has low fuel capacity. The low suspension means combining Jump Shocks and Landing Boost Together do well. When Suspension is at max level, the Formula's Center of Mass becomes very light.
The Formula's high speed and aerodynamics are attributed to its front and rear spoilers, which give tremendous downforce to keep the car on the ground. However, they do not allow the car to "glide" forward that much and may get broken after hard impacts, making the car slower and somewhat bouncy due to the firm suspension. Formula has weak grip, making it not very good to use on Adventure and snowy surfaces. The Winter Tires Tuning Part can mitigate the issue. Its acceleration at the start is average, though this can be solved with the Start Boost part. Other speed-related tuning parts such as Landing Boost and the Overcharged Turbo work well with the Formula, as it is focused on speed and not as much for stunts.
Be careful with the car after certain jumps; it causes the car to descend at tremendous speeds and may cause a bug where the driver's head may end up stuck within the car's body, sometimes "crashing" with a hard landing because the character's head hits the ground. This will be more common of an issue as the downforce is upgraded.
NOTE: You can detach the front and rear spoilers of the formula, which if is ever used in Adventure would be good for improving the overall fly time of the vehicle.
See Vehicle Paints List for pictures and more information.
Formula is the only vehicle in the game the paints of which change the game performance. We mean the back spoiler style that changes upon selecting some legendary paints. The smaller type spoiler on legendary paints is much more difficult to break when landing.
The Formula comes with 7 different paints and 12 different wheels that can be obtained (VIP paint and wheel aren't included, but you can get it with VIP subscription). After purchasing, it has free orange and blue paints and a wheel to start with.