In a storyline inspired by films like The Fast and the Furious, Street Racing Syndicate has players making a name for themselves in the high-stakes world of underground street racing. Players begin by creating a character and then gaining notoriety by entering and winning races. Vehicles can be upgraded along the way, from suspension and tires to turbo and nitrous oxide. Players can also customize the exterior of their car by selecting different paint schemes and detail work. In addition to racing for money, players can opt to race for their rival's most prized possession: either his pink slip or his date.
Gameplay offers a choice of sanctioned racing events as well as illegal street races held at night. Players selecting the latter option must be prepared to outrun the police or risk being thrown in jail, receiving a ticket, or having their car impounded. A damage option has the jostling action between rival vehicles gradually affecting each car's appearance and performance. Players may then need to purchase an upgrade or authorize repairs using after-market parts to get their vehicle back on the road and ready to race.