[GT40Racer]

I have some chairs in my lounge that are used for sitting on not just for looking at. Does this make me a chair collector?

No because with slot cars we are talking about items that are part of a hobby not items that are for practical everyday use. You could have a hobby as a chair collector but that would be different to buying chairs to sit on an watch TV or have your dinner. Now you might say racing a slot car is making practical use but I would disagree - it is using them as intended as part of the hobby of slot car racing there isn't any practical benefit in doing this as there would be in say using a hammer to knock a nail in.