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Jabber laps is when you drive around like a maniac just to show off your car or your loud stereo. You do it on the weekends, usually on the same road over and over like you're trying to annoy the neighbors.
My cousin did 20 laps around the beach on his V8, and the cops came because he was too loud.
I did jabber laps in my tiny car, blasting my stereo so loud the dog ran away.
My friend did jabber laps in her pink car with a 'I'm a princess' sticker, and it was the worst thing ever.