These images look neat but...
What type of materials should be used for this project? And how much would it cost? I'm new at this.
Link and images at: motor-racing-art.blogspot.com
What most do is get an idea plan it out then make a template from cardboard tape it on test it, then adjust. After that is done they go to final production using coroplast, metal, or fiberglass.
How it looks depends on what skills you have and how much time you spend on it.