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Adding here because it doesn't seem like anyone is going to update the README file any longer:
- the handling.meta file goes in the folder common.rpf/data
- the vehicles.meta file goes in the folder common.rpf/data/levels/gta5
The vehicle's braking stat in-game seems to be a tad lower than in the original Sultan (which this is an addon for), though it doesn't seem to show up mechanically, and it comes with bulletproof tires as default (at least in my case). Customizing the bumpers and hood break the model, and skirts, spoiler, rollcage, wheels and roof either clip through or don't quite fit.
Anyway, it is good enough.