Pinnacle Trading Cards car
Select exhibition mode, highlight Bobby Labonte's car at the car selection screen, then hold X and press Up, Down.

EA Sports car
Select exhibition mode, highlight Kenny Wallace's car at the car selection screen, then hold X and press Up, Down.

Turbo mode option
At the options screen, hold Circle and press Up, Left, Down, Right. Then a new option that increases the game's frame rate will appear at the bottom of the screen.

Paintball mode
Pause the game and display the race statistics screen. Then, hold L1 + L2 + R1 + R2 + Triangle until the sound of an engine is heard. Resume the game and press Triangle to shoot paintballs at the other cars.

Faster settings
Enter the car setup screen and adjust the tire pressure to the maximum, wedge to the minimum, rear spoiler to the minimum, and gear ratios to the maximum.

Waving driver
Select the view in which the driver and steering wheel are visible. Then while driving, hold Triangle until the driver waves.