Start a career and enter these passwords at the registry screen.
Stock Cars - GO BEARS!
Indy Cars - GO BRUINS!
Phat car mode - PHATCARS
Press start car - PRESSSTART
Wire-frame mode - WYRED
Pause the game and go to Race Statistics.
Hold down the R button and press C.
Now you can adjust the speed of the other racers and change the number of laps to 99.