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Don't cheat. It ruins the game. I'm about 84% now without cheats. All I need to complete is a few more Rampages, and collect a few more Hidden Packages.
Anyway, when I done that mission I found the best tactic was to stay just slightly behind the other car at the start, then when you turn the first corner, try to 'fish-tail' him (hitting him from the back to make him spin out) and this will give you a good lead. And since the other driver is quite reckless, he will go too fast when he's trying to catch up with you that he'll spin himself out most of the time.