Very good, I should actually update the board now!
EDIT: that said, y’all do have a ways to go before you can truly challenge for best possible time 
This is a crude build:
EDIT 2: sorry, forgot to add the second lip 
Hint: [spoiler] This is an MR body with NA V8 and as large a stroke as possible without grenading the engine at maximum performance index. It’s good for about 1230bhp. Also, for MR cars the game likes it if you have heaps of rear downforce so put at least one lip on the rear as well as both wings.[/spoiler]
EDIT 3: And this is a turbo build.
Hint: [spoiler]Turbos spool earlier on v12s and turbo cars with too much boost tend to do worse after a certain point. This one runs around 1450bhp. I could easily use 2150bhp in the same body, except it simply won’t go as fast around the track.[/spoiler]
All cars above are from 2016. Further hints and details upon request
EDIT 4: BTW what build are you all using? I’m running open beta (161021) and the times are probably a bit different!!!