Well there is racing, but its league limited. Only one pickup server and that is multiclass.
Good thing in LFS is this : You can race only vs. 1 car, but if that car similar pace to yours, you're gonna have loads of fun.
I think these days LFS suffers from elitism. New guys can join established leagues, like the ones my team hosts (GTI on thursday and FOX on friday), but you really gotta be good to be able to drive normally there. If you are just learning the ropes, field will just devour you and your motivation will probably fall, just because the difference in pace will be massive.