About filling in properties and inheritance

[Relevant Halo]

Let's say I have an actor script called "Car" and another script called "RaceCar", which extends "Car"

Most of the functionality is within Car (eg. the number of wheels).

The RaceCar script only contains specific settings that pertain to that specific RaceCar (eg. the color).

 

I have a magic effect for each of my RaceCars, all of which use manually filled properties (which I set in the creation kit). I also set a lot of properties for the base class Car, however these properties aren't automatically filled in for the RaceCars (which I assumed it would due to inheritance of properties).

 

My question is: 

Is there a way to have all the properties in the RaceCars automatically use the properties of Car?

Is there a way to set properties at the script level (instead of via creation kit)?

Or better yet, can someone suggest a better way to design my model of Cars and RaceCars? (I can provide more information if needed)