Good Only control all of the Players on server, then have local car update to match server state. Pros - Think would work well with good internet, easy to program. Cons- Lag and syncing problems could arise.
Bad Constantly check for position and velocity error and simply “reset” to zero. Pros - It is easy to check for error, so an easy fix. Cons - I foresee it being computationally expensive, and would probably result in jittery motion and control.
Ugly Make the framerate fixed. Pros - I think it would be a perfect solution. Cons - Unlikely if at all possible. How would you make FR same over the internet? Even if possible would be annoying to players with different machine setups going up or down to match FR of other machines. Difficult to Program.