This is an idea meant more for realism, not fun. I was thinking that maybe there could be realistic fuel consumption. Your fuel level will go down a lot quicker if you puncture your gas tank when you bottom out. And if fire is implemented, your car is at greater risk of catching on fire. Edit - I just realized that fuel was partially covered in another thread. sorry about that.
Whilst slamming into a back of another car causing the fuel tank to rupture and create a fireball would be fun one has to question how it would be implemented. I know that CryEngine 3 does natively support fire effects and it could be as simple as an emitter starting when a certain amount of force is applied on the fuel tank. If they can do dynamic dirt and damage textures I don't suppose fire damaged textures (such as the metal going black and crispy) would be terribly hard, just very time consuming more than anything. Although if this was implemented I would like it to be optional, they'd be no fun in wrecking a car if any large force sent it into flames...