Swedish Flick
A swedish flick is where you spin the car round a really tight u-turn without losing too much speed.
To do one approach the corner really fast, then about 15 metres in from it, turn in the opppostie direction very fast (just flick the control sitck) then turn hard the other way just as you come to the bend and hit the handbrake button while still holding accelerate. Release the accelerate 1/2 way through the turn. As you come round the bend and are 2/3rd's through it release both the handbrake and the control stick and hit accelerate hard (though you may need to slightly straighten out the car). This thould save you about 2-5 secs on your time depending on how succesful you are.
Note though: On ice and snow, its better to slow down.