There shouldn't be any jerkiness with the first formula, although the correct method is to use dt: lerp(Self.X, Target.X, dt*5)
The second formula should give you very sharp movement. At 60 fps dt value is ~0.016s, so (1-dt^0.075) gives you something around ~0.3, which means that the camera will cover 1/3 of the distance to target every tick. This is a lot, that's why this camera will follow the car almost instantly.
You can also try something like this: lerp(Self.X, Car.X, abs(car.X-Self.X)/1000), this will give the camera slow start and slow finish. There are lots of other methods, but I don't remember them :)
In C2 I also used MoveTo behavior for the camera instead of lerp. On every tick moving to target position with smooth acceleration and deceleration and limited maximum speed, it looked pretty good. MoveTo addon is ported to C3, so you can try it if you want.
Here is a little demo to play with:
dropbox.com/s/afrx680gfapj4yr/Lerping.capx
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By the way, here is an excellent article explaining how cameras work in many popular game: Scroll Back: The Theory and Practice of Cameras in Side-Scrollers