you have it easy, in NSW, first offence for racing is 3 months car impoundment, 2nd offence is the car will be auctioned, and all the money will go to the government... you see none of it..
i think if you deny everything and its blatently obvious to the police your lying thats stupid, i was pulled over for racing, right after the other car somehow went around a corner(i dont know how he didnt crash) and i decided, well there gonna chanse someone i may aswell wait for them to turn around and book me...
anyway i was told to gte my stuff out of the car because there arranging a tow truck...
we proceeded to talk to the police like real people... and after some 30minutes of general conversation, we found out there having a real bad night of people telling bullshit stories with dodgy excuses.. at this point i said yeh we were racing but only to 90kms(it was 60 zone)
I also have an auto liscence with manual skyline, the police asked why drive manual car with auto liscence, because its cheaper to get the $74 fine then it is to re sit liscence $90 od..
he said fair enough.. then told me, well we have fined you for no p plates, driving manual car with auto liscence, and for 'racing' but its really burnout fine.. so you can keep you car, your mate is very drunk, so you can drive it home, but if we see you out tonight anywere but on your way home, we will confiscate your car..
i think the moral of this story is that too many people forget that police are people doing there jobs.. they have bad 'customers' just like macdonalds or KFC staff get.. and they have to deal with them too.. treat them nicely and respect them and who knows they might be nice and respect you...