A fun little experience! The car destruction is great, and I also think that the driving feels good. It definitely gives off major twisted metal vibes ;)
The first little issue I had with the game is, that the pillars of the geometry around the actual arena can obscure your own car, so you can get lost behind those pillars.
The other problem is, that the AI tends to destroy their own cars before getting to all 10 checkpoints. I once even tried to idle until every other car was wrecked, and easily managed to win without any danger whatsoever.
If you continue working on this game then I can definitely imagine a great game with a selection of different cars with different stats (maybe even customization), more levels and multiplayer (wrecking my friends into raging madness sounds amazing with this type of game).
All in all a strong entry for the jam though. Great job!