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Found the game! It's called Grudge Warriors (thanks for everyone's help)!

Nope but from the gameplay I saw its quite similar.

Nope, there wasn't any racing on it as far as I can recall....prehaps something like Duke or Dune rings any bells? I have this names on my head but none seem to fit.

No, nothing from a well known franchise, and there are no ships or anything just veichles shooting missiles and stuff. If I recall correctly (I may be wrong here tho) I do believe the name has only 4...

So I remember this game I played with my friend for the PS1 where there were some weird veichles that you chose and then went around some kind of wide arena finding your opponent and trying to kill...