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A local website does ride of the month - it has had some positive and negative results.
Positive is that it is something to look at - possibly place to look for ideas for your own car.
Negative is that every now and again you get a Ride of the Month that some people don't agree with - starts turning into a thread bashing someone!
As long as it can stay mature I think it would be a good idea!
The start an original thread for "Nominations for Ride of the Month". Each individual needs 2 nominations to become a candidate. This thread stays open for about 3 days. Once they have a decent number of contestants they start the official "Vote for Ride of the Month" Poll Thread with 1 picture of each ride. They leave that thread open for about 3 days before determining the winner. The person who is incharge of the Ride of the Month then contacts the winner to get more pictures and a list of modifications to the car for the official "September Ride of the Month" Vehicle.
Seriously though, this sounds like a good idea. Perhaps have the official 'Month' threads with voting. Potential winners should submit to this thread before the 1st of the month. We should also come up with an agreed upon frequency people can submit. To keep it fresh, if you don't win a month, you cannot resubmit the same photo's for the next month. (just a thought)