yes, the 2gb video card is the absolute bare bones minimum. The newer cars and tracks have a tremendous amount of data that is cached in the vidcard memory. Your card can probably survive older tracks and cars, but most of the new stuff, which is pretty much from the change to Steam forward. You are on the right track. Reduce graphics as much as you can tolerate and reduce the number of cars you load for opponents.
Thanks again for your help. I will try to do that. Do you think more RAM would help or the video card is the main problem?
RAM itself won't help. Laptop, right? Only minor bandaid solutions there. You need a new system, recent 6+ core 3.5GHz CPU, 16 GB RAM, 8 GB video card. Not that expensive relatively speaking, don't need the latest and greatest, but you'll hit multiple bottlenecks with your laptop if you do manage to upgrade bits of it.