If I want to joke about my friend's old car, is the sentence correct?
are you still riding that old car?
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Are you still riding that old car?
If you travel as a passenger in a car, you can say that you ride a car (in AmE) or ride in a car (both in AmE and BrE). So there's nothing wrong with the sentence if used in this sense.
If you operate a car and control its movement and direction, you say that you drive a car. If used in this sense, the correct sentence is:
Are you still driving that old car?