The very best you can do is never admit fault. I have been pulled over for street racing, speeding, and hooning.
I have only ever been charged twice though, one for street racing and one for speeding. When you get pulled over never go 'I am sorry officer for (insert crime)' it is better to start with 'Hello officer how are you today? How can I help you' (hand your licence over right away though they always look at them, atleast here). Cops need proof that you broke a law, and most the time there is no solid proof for it.
If you have cruise control on your car (and shows some form of text on the cluster) hit it before you pull over completely, so that the light remains on the dash. If your done for speeding it is a very good way to get out of a ticket if its only a little over the limit, that way you can say that your speed limit was set to (I always say 1-2km/h under the speed limit never the exact speed limit).
As for hooning, I always used the 'I just brought my car, and it has a bit more torque then I am used to, the light truck tyres on the back dont really help matters. I will try to easy the power on even slower next time' Or if it is raining 'Sorry officer, these tyres don't seem to do too well with accellerations from stand stills while in the wet. I am looking at getting better tyres but it is hard to find better brands for this car.' Of course only use those excuses if the cop goes 'I noticed you spun your wheels for awhile there.'