Once you purchase a license for content (cars and tracks), you retain the right to use that content on an ongoing basis.
However, because iRacing operates under official licenses for most content in the simulation, situations may arise where a license for a particular car or track is not renewed.
In such rare cases of an expired or unrenewed license, whether the content remains accessible in your account depends on the contractual arrangement with the licensor.
Either way, under the scenario of an expired license, the content could no longer be offered to new members or actively promoted.
Additionally, in some instances, older content may also be replaced with updated versions, which can result in the original content no longer being available. iRacing typically will not charge additional fees for the new or updated versions of content.
However, depending on the situation including the license's contractual obligations, it is possible that additional fees will be charged for updated content.
Please also note that iRacing’s licensing agreements are generally long-term or established with ongoing use in mind.