What is the ruling on showing off in designated places?

If "istira'd" (showing off) means drifting cars, which exposes one's life to peril and wastes wealth, then it is forbidden, based on the Almighty's saying: "And do not throw yourselves with your own hands into destruction," and the Prophet's (PBUH) saying: "Indeed, Allah dislikes for you three things: gossiping, wasting wealth, and excessive questioning."