Ford Bold Moves Street Racing is the third Razorworks-developed title in the licensed Ford Racing series since they took over development in Ford Racing 2. Unlike its predecessors, this version has an urban atmosphere. The road races, off-road challenges and circuit tracks have been removed and the action has been taken entirely to the streets of Los Angeles, with 24 tracks available. As in the previous version, the 18 available cars are all Fords, ranging from the 1968 Mustang GT to the 2007 Shelby GT 500.

There are 4 main modes: Quick Race, Team Racing, Solo Racing and Multiplayer. Solo Racing offers quick races, and championships where new vehicles and tracks can be unlocked. The real novelty is the Team Racing mode, split up in single races, team championships, challenges and tutorials. Team Racing has the player control two or three vehicles in a single team during a race in modes such as Race, Elimination or Duel. The team with the highest point total wins, so the player either has to switch between the vehicles to drive (the others cars then become AI-controlled) or issue orders such as Block (slow down another vehicle) or Draft (additional speed in the slipstream) to influence the driving behaviour of the team mates. This can be extended to double or even triple actions of the same effect. Blocked cars have to brake and weave across the track until they regain control.

Racing or completing challenges earns credits, which can be spent to buy new vehicles in the showroom. Despite the urban theme, there are no tuning options. Cars can only be viewed, repaired and sold.

The PSP version adds 6 new Ford cars (1962 Thunderbird Sports Roadster, 1971 Mustang Mach 1, 2004 Bronco Concept, 2005 Shelby GR-1 Concept, 2005 SVT Sport Trac Adrenalin Concept, 2005 Thunderbird) and 7 new tracks. In the Team Racing mode, two cars can be controlled (3 in the console versions) and solo and team multiplayer is supported over Wi-Fi.

There is also an alternate Australian PS2 release Ford Street Racing (XR Edition), with 4 additional cars synonymous with the history of Ford in Australia: the 1970 Ford XY GT Falcon, the 1970 Ford XY GTHO Falcon (Phase III), the 2003 Falcon XR8 Ute and the Australian Falcon XR8. That version is also the only PSP version released in Australia.