Believe it or not, bike handling in IV and EFLC are somehow effected by frame rates. When I upgraded my GPU's and was having 120+ FPS I noticed I could no longer ride bikes as well as I could before but I did not know why. I reinstalled the game thinking my handling got messed up but it wasn't.
I now play with VSync enabled and my bikes work normally, you can also set a frame lock in your graphics card settings if you don't like VSync or if it causes you lag.
Proof: