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2.
Excessive use of wheel spin in a car when there is absolutly no need what so ever. May be used by chavs in order to impress fellow idiots or vicky pollard luck a likes.
Spinage can be optimised with worn/bald tyres, wet/icy conditions, when starting on an incline and also by reversing at high speed and ramming it into 1st and flooring it.
Spinage can be requested by the passenger riding shotgun at any point when the car is not in motion.
Get some spinage mate

or simply

"SPINAGE!!!!!"
by Ash Cunty December 28, 2006
 
1.
A phrase to signal the successful installation of a motorboat propeller.
We have spinage!
by robmac90 July 12, 2009