Typically no, teams don't go through the extra cost of painting a car, but if they're being paid to test a driver, and whomever is paying wants to film the car for whatever reason, normally a commercial or a movie/television plot tie in. As far as "Lets go test a driver," no, normally they don't skin a car for that.
For those who are curious. Stargate Resistance is a new model to the Stargate Worlds game franchise that dramatically increases the game's playability.
I get that MGM owns the franchise, but I don't get where the $4 million or so it would cost to sponsor that ride is coming from. I get that Simona has investors, but how does the ad buy for a game come in? There is a new Stargate show, and I understand there are plans for a series of Star Gate movies, but this seems odd. Some of her Atlantic team is helping with the test, so I think its something of a joint venture/rental situation between Stargate Worlds and HVM. So the livery could be part of presentation to whomever is paying for the Stargate support of "This is what your team could look like if you choose to fully fund an IRL operation," kinda thing, which would mean that the deal isn't done, and all this is a mockup.
From the Catchfence:
http://www.catchfence.com/tag/team-stargate-worlds/