Red Bar PCSX2 Problem

Hello I’m having problems troubleshooting the red bar issue in PCSX2.

System Spec:

AMD FX 8370

16GB DDR3 1866MHz

MSI GTX 1080 Gaming X

Screenshots:

Spoiler

http://i.imgur.com/7my5F22.png

Introduction Scene (start of a race)

http://i.imgur.com/nXBTaoJ.png

During a race

http://i.imgur.com/0XyNNs3.png

Pause Screen

http://i.imgur.com/4gLgk0l.png

Race credits

http://i.imgur.com/1i9aMOw.png

Cutscene

http://i.imgur.com/hYBrnEe.png

Main menu

http://i.imgur.com/QoyEHf3.png

Loading screen

As you can see there is intermittent red bars which I can’t seem to fix. I also get low framerates when racing in close proximity to the rival and cop cars and it falls dramatically with more than 3 cars on screen at the same time. Can someone with experience please help me with a solution as I would like to have a go on some of these retro games again.

I still own this game so it’s basically just playing a backup although I downloaded it from the internet.

Does this problem exist on other games?