Just remember that when you are closer, the position of your viewpoint relative to the car gives you a tighter feel for the car itself, but it can restrict your view of the car's immediate surroundings. So being closer can make one feel more at ease when controlling the ball at close range, but you lose some of the peripheral sensory awareness that you have when the camera is further away.

As for angle, its a feel thing, but most pros/streamers use between -3 and -5, some more. Going higher on the angle increases your awareness of what's going on right around the vehicle at the expense of situational awareness in the game (i.e., what's going on 50 feet in front of you).

Honestly, just feel it out and do what feels the most comfortable, but if you want some guidance or some ideas, check out this thread. Lachinio's settings are very popular, and for a good reason. Try some of these configs out and see if they tickle your fancy.