Mr Foote said since the crash Carlton had gone "out of his way" to put things right.
The car, worth $90,000, was wrecked and sold for parts and he had paid over $13,000 to fix another vehicle he damaged while racing as well as a donation to emergency services.
"He learnt a huge lesson."
According to the police summary of facts, which was not read out in court, Carlton accelerated heavily and lost control crashing down a small bank off the main road.
He then reversed out and sped over a distance of about 200m before crashing into a stationary vehicle which had one person in it.
Although the vehicle was damaged, nobody was injured in the crash.
Community Magistrate Sherida Cooper said the victim had written a letter supporting Carlton. He was convicted and disqualified from driving for six months.