I'm pretty far into the game; just unlocked the northern half of the map, about to go get my V8. So far into the game I haven't found a way to drift or powerslide. There is no handbrake as far as I can tell, & the standard brake tends to bring you to a full stop instead of sending you skidding across the dirt. The only somewhat consistent maneuver I've found so far is to let of the gas entirely at high speeds and then tap the brake, though this can easily spin you out or fail if you're not going fast enough. Am I alone in sorely missing some kind of drifting functionality, or is there some essential mechanic I'm missing?

Had a quick google and saw that if you hit L2 and boost then is slides also seem like one of the Alternate control scheme has a handbrake button but it may just be a brake. Can't test at the moment as I'm at work.