I have a few current and on/off loves
Blur (criminally underplayed, I'll forever miss you Bizzare Creations)
Ridge Racer Type 4, RR5, RR6, RR7
Ridge Racer and Ridge Racer 2 on PSP
NFS Underground 1 and 2
Midnight Club Los Angeles
Pretty much every game from the Tokyo Xtreme Racer series, including Import Tuner Challenge
Mario Kart 8
Wipeout HD Fury
Project Gotham Racing series
San Fransico Rush series
Initial D Extreme Stage (I think that's the one on PS3)
Sega Rally series
Heres some that I dont necessarily love, but did like for a short while or found pretty interesting
Enthusia: Konami made simulator that has one of the most realistic automatic transmission feels I've ever seen
Auto Modellista: I really wish Capcom would've given this game another chance, I love cel shaded artstyles, and it fits arcade style racers perfectly.
Toca Race Driver 3: I love Codemasters games for the most part, and this was basically Grid before Grid was a thing
Cruisn series: Nothing special today, but they're huge nostalgia trips for me
Gas Guzzlers Extreme: Rarely play it anymore, but I loved the combat
Little Racers STREET: It's like RC Pro AM and NFS Undergound had a baby, great time killer.
There's a ton of arcade racers that I really wish I could play the actual arcade versions of. Initial D and Wangan Midnight immediately come to mind. But unfortunately, the arcade scene is very much dead where I live. Not a racer or fighter in sight.