The 500 XLR8 is designed as a blue and red "tuner" car based on a two-door coupe or stock sports car (similar in appearance to GTA Chinatown Wars' Comet, regular and modified), being outfitted with a basic body kit, a large black spoiler, and purple neon underglows that light up at night. The "XLR8" part of the name is a homophone for "accelerate".
The 500 XLR8 is a considerably good in performance, possessing an excellent acceleration and a good top speed. Its steering, however, is only moderately good, while the car's brakes are only responsive at lower speeds as it results in the car having a longer stopping distance at higher speeds; the car also has the tendency to lean towards the side when steering around tight corners. Its durability is, as expected, low.