I find it easier to drill out the center of the rivet first. This gives the the big bit a center to stay on and keeps it from walking. This also makes it easier to tap the car for screws so you can put it back together.
https://www.amazon.com/BLACK-DECKER-BDCD8C-Lithium-Drill/dp/B0111N8O6G
This is my preferred drill to work on Hot Wheels. It's super light weight and the speed control is really good.
r/HotWheels/
r/DiecastCustoms/
r/CustomHotWheels/
YouTube is a huge resource for learning how to do this, I have been focusing on other hobbies and school over the last year or so, so I am rusty on specifics on drill bit sizes and what not.
This is my favorite drill to use because it is small and light weight and it charges with a USB charger.
I have a super basic little black and decker drill: https://amazon.com/BLACK-DECKER-BDCD8C-Lithium-Drill/dp/B0111N8O6G
and these drill bits: https://amazon.com/Masonry-CONCRETE-CINDERBLOCK-Industrial-Strength/dp/B07DQRDPT7
I usually start with one of the smaller bits to drill a small hole and then switch to progressively larger bits to make the hole bigger; otherwise it takes forever and the drill starts overheating. it can also help to spray a bit of water where you’re drilling.