M.L.
You can put the cars posters in those large plastic frames and hang them up. Or, be cheap like us and just thumbtack them in (we also have a cars poster in my boys room). The decals wont work though.
You can make a big paper chain with matching colors and tack them like a garland on the walls. You can hang a car themed pinata.
You could take black duct tape and make like a speed way on a wall, paint a dotted line in yellow down the center, then hot glue small hot wheels or foam cars on it like they are racing on a speedway.
You can get cheap racing flags or banners at a party store and pin them on the walls.
Lots of cute ideas here:
http://www.google.com/search?hl=en&q=car+themed+room&...