If you purchased iRacing from Steam, you will need to turn off the renewal within Steam or contact Steam Support iRacing and Steam have two separate purchasing processes
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For Direct iRacing accounts-
If you are renewing your direct iRacing account manually, you can turn off the auto renew option prior to completing the subscription purchase:
If you initially purchased iRacing directly from www.iracing.com with a Mastercard, Visa, American Express, Discover or PayPal, you can log into your account directly here: https://members.iracing.com/membersite/account/MyInfo.do
The page should refresh and if it then says "Turn ON auto-renew", you have successfully turned off auto renew.
In addition, ACTIVE will now say DON'T RENEW-
This will turn off the auto renew feature and your payment method will not be charged for the next renewal at the end of your current subscription.
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If you purchased iRacing from Steam, you will need to turn off the renewal within Steam or contact Steam Support iRacing and Steam have two separate purchasing processes