If you run an automatic transmission,...
If you run an automatic transmission, drain the fluid and look for any dark burned bits or anything else that doesn't belong there.
Many tracks don't allow the cars to use a coolant that has any antifreeze. So if you live in an area with winter temperatures below freezing, drain the radiator and get all of the water out of the block. At this time you should also be looking at the general condition of the radiator. Are there any bent or damaged fins? Did you make any temporary repairs at the start of the season that have lasted through the entire season? Now is the time to have the radiator checked by a good radiator shop. Also, all of the hoses should be checked and given a clean bill of health for next season.
If you're running an automatic transmission, drop the pan, clean the filter, and look for any dark burned bits in the pan or anything else that doesn't belong there. If you find stuff in the pan, this may merit a further inspection and possibly removal and teardown. If the fluid is still clear and the pan and filter are reasonably clean, reinstall the pan, fill the transmission with fluid, and consider it good to go for next season.
First, give the rearend a visual inspection by looking for any oil weeping or leaking from areas where there should be no oil. This is a sure sign of problems. Drain the oil and look for any large metal chips or chunks. Does the oil smell burned? You'll know because the odor is unmistakable. If you have any questions, take a sample of the oil to the local garage and they will be able to tell you right away if it's burned. A small amount of metal in the oil is common-a small amount! If the oil is burned and contaminated with metal, tear down the rearend and do further inspection and possibly replace some parts. It doesn't hurt to remove the rear cover on GM rearends, or pull out the third member if you're using a Ford rearend, and look at the gears and differential. If you have a high horsepower car, this is a mandatory check.
Look at the rearend gears...
Look at the rearend gears and the differential, especially if the oil is burned and contaminated with metal. If you have a high horsepower car, this is a mandatory check.
If there are no big chunks of metal, and the oil doesn't look like metal-flake paint, then replace the drain plug and refill the rearend with the correct amount and type of oil.
Look for any obvious signs of damage, such as dents, cracks, broken hardware, or welds. Make sure none of the balance weights have broken off or are missing. Grab the driveshaft and feel for any excessive play at the universal joints. Inspect the hardware on the universal joints; this includes the U-bolts and clips. Lubricate as required.
If a cold winter is coming, remove the battery. Check the water level, add as required, and place the battery in a warm place for the winter. It's not a bad idea to put it on a low-duty battery charger. There are battery chargers on the market that are designed to keep a battery in charge over long periods of inactivity.
Also, inspect the drivebelt on the alternator and replace as necessary. Do the same with battery cables.
Inspect the body for damage, especially any that will require repair over the off-season. Now is not the time to repair the damage but to develop a list of parts that will be required. Determine the time you'll need to gather the parts, as you may have to factor in extra time. If the graphics package needs to be repaired or replaced, add that to your list. The body requires no special attention to get ready for the winter. This is just one of the times you'll have an opportunity to gather parts at a more leisurely pace.
If you have a high-horsepower...
If you have a high-horsepower engine, you may want to remove the valve covers and back off the rocker arms so the valvesprings aren't in a state of full compression for the next several months.
This could be the topic for a book. If you're running what's basically a warmed-over street engine, the amount of preparation should be fairly easy. There are products on the market that are made for lubricating cylinders, pistons, and rings when an engine will be stored for long periods of time. These are called fogging oils, and most boat-repair or marine-supply houses carry them. Pennzoil makes an aerosol fogging oil. You simply spray it into the carburetor of a running engine then shut it down. If you've already drained the fuel system, remove the spark plugs and spray the oil into the cylinders, and then turn over the engine a couple of times. Replace the spark plugs, tighten them finger-tight, and you're good to go.
If you have a high-horsepower engine, you may, in addition to using the fogging oil, remove the valve covers and back off the rocker arms so the valvesprings aren't in a state of full compression for the next several months. You should also contact your engine builder and check to see what his recommendations are for long-term storage.
Clean the tires and coat them with a heavy layer of Armor All or some other rubber protection product. Be sure to store the tires out of the sun and weather.
As a final suggestion, put the car on jackstands and place some cardboard underneath so you can track any leakage over the winter. You may have missed a leak or two.
These tips should get you through the winter and keep you dreaming of the upcoming season.