I'm not sure about Paint Shop (I haven't played with it in years), but this was done in Photoshop 7.
Since you're car's in various stages of paint, the way I did it was to take the body and desaturate it so it's in greyscale. Then each individual body panel is put on it's own layer and graded to match the others. At that point, you can flatten the layers and adjust the color from there. I turned it to a red color, then put a layer of semi-opaque black over it. From there, I used the eraser in certain areas, added black with the paintbrush in others, then used some after effects to give it a shiny look.
It still feels a flat to me, but like I say, it was just a quick doodle.