Hi there RF054. The "jacked up" look is really where either geometry, transmission issues, chassis configuration or even chassis type combine to create this "gap" between the top of the wheel and the lower lip of the wheel arch at the rear and in certain cases at the front too. This stance also tends to result in a nose down "wedge like" appearance. This is perfectly normal on a street car, but race cars or street cars with a racing heritage famously feature wheels that are tucked up just inside the arches probably indicating a fiercely hard (and thus competition) suspension setting, as if you had soft springing with a set up like this, you would be wearing out your tyres on the fender lip in double quick time!.