This seriously need to be improved. This game is really great, however it annoys the heck out of me when I crash head on into the wall and I get no internal damage what so ever. I can just crash and still go the same speed as when I didnt crash.
Use F10 to display the damage. When your suspension is damaged after a heavy crash or a rough jump over the curbs you wouldnt be able to drive fast laps.
I read from your profile that you just joined in March. Why dont you practise a while, explore the game and buy a license?