It's quite easy - I've made quite a few scenes with detailed dynamic cars + trucks. My method for real cars is to have a proxy dynamic car made from primitives and make the real wheels children of the cylinders (same size and location), the body just has to be a cube of approx size. The real car parts just come along for the ride, just use the traffic lights for hide reveal. If you apply dynamic tags to hi poly stuff it runs very slow in the viewport, so is hard to setup. A proxy car runs fast, and you can re-use the rig.
Here's a dynamic Mini with manual XPresso steering - has a switch to see the hidden proxy car.
https://www.dropbox.com/s/uf22aqwe11gkzxz/redmini.zip?dl=1
The toy car follows a target on a spline, and has a null pointing at the target to get steering. Distance to target controls the motors. The speed of the target is done by addition and varies for different parts of the scene, so there's a python lookup table - loop the loop needs to go fast etc.
one car.c4d
the toy car crashes sometimes, but that's part of the fun. I had several attempts at baking 3 toy cars before I got a scene with no crashes.
Creative Commons Mini in DropBox file from http://www.oyonale.com/accueil.php?lang=en