Yes, it is indeed a painful (pun intended) sight to see a Nissan Skyline GT-R KPGC10 this way:

Most painful Itasha ever: Nissan Skyline KPGC10
I don't think it will get the title of the most expensive itasha ever since I've seen several Ferrari and Lamborghini covered completely with anime vinyls.

On the other hand Haruhi blends perfectly in with the blue periodically correct racing stripes:

Most painful Itasha ever: Nissan Skyline KPGC10
So even though it may be painful it is also done with great taste! ;)

Found in the JCCA NYM 2010 meeting pictures of Life doodling.