When creating a new, direct iRacing account, or renewing an existing account, your account is set to automatically renew for your convenience. You may choose to turn the auto-renew feature OFF at any time in the Account section of iRacing, without penalty. 

Once it's turned off, if you renew early it will not turn on again. However, if the account becomes inactive, then you renew, the auto-renew option will be reactivated by default.

New members located in the EU (excluding Germany, France, Ireland, Italy and Spain) do not have Auto-Renew set to ON automatically – these members may choose to turn the auto-renew feature ON manually during the checkout process or in the Account section of iRacing.  If you are located in the EU and your account is older than February 2022 and you are scheduled to renew but do not want to, you will need to turn off the auto-renew option in the account section of members.iracing.com. 

If you purchased iRacing through Steam, you will need to contact Steam Support as they and iRacing have two completely separate purchasing systems.