Resurrect in place:

This will attempt to place the car at the same 
spot as where the car was destroyed. It will 
make one attempt to place the car in the same 
spot but if it cannot, it will then will move 
the car back onto the track.

On the Setup screen, hold the Z button, then 
press and hold C-Left then C-Right. Continue to
hold the Z button and release the C- buttons. 
Press and hold C-Right then C-Left to activate 
the code. A small "R" with a line through it 
will appear if the code is entered correctly. 
Repeat the code to deactivate this option.