It's still later than the time period you state, but possibly the 2017 animated film by The Asylum, CarGo?
A young car learns the importance of family when he embarks on a mission to rescue his father who's been sent to Clunker Island to be re-purposed as junk metal.
Trailer
I found a copy online, and early on, there's a scene where Vin is talking to Danny (and later rapping) about how Danny isn't going to get anywhere going to school, and that he needs to do something cool like join a street race instead.