Cheats List
While playing input the following codes:

All cars in garage enchanced ... UP, DOWN, LEFT, RIGHT, CIRCLE, SQUARE, R2, R1, UP, DOWN, LEFT, RIGHT.
Add $5000 to account ... UP, DOWN, LEFT, RIGHT, CIRCLE, LEFT, R2, UP.

Police are on donut break ... UP, DOWN, LEFT, RIGHT, R2, SQUARE, RIGHT, R1, LEFT.

Always first place ... UP, DOWN, LEFT, RIGHT, R2, LEFT, CIRCLE, UP.

Traffic at max speed ... UP, DOWN, LEFT, RIGHT, SQUARE, RIGHT, CIRCLE, LEFT. Nitrous Infinitus ... UP, DOWN, LEFT, RIGHT, SQUARE, UP, DOWN, CIRCLE, UP.

Cheat No Catch-Up
Use C-VHARD as a profile name.

Cheat Slow Opponents
Enter C-EASY as a profile name