Hi Halbertus
check FAQ in case you have any other problems!!!
Here is the solution
change the following lines values of f1graphics.cfg
1 ; f1graphics.cfg controls all settings (default 0)
0 ; Texture quality : 0 => max 2 => half 4 => qtr 8 => eigth
1 ; Increase car texture quality (1 on, 0 off)
0 ; TV style overlays on track cameras.