Correct.
So you can borrow, say, a Zonda Race Car's brakes, and attach them to a Nissan mm.
One thing you should be aware of in GTC, is that the car you select in the game will have the same appearance as the original car did, until you reach the track. So if you swap in a Mazda 787B or P001 F1 car (F094/S) for a Ford Ka, the car you select will still LOOK like the Ford Ka, but it will actually be the 787B or P001 on-track.