Getting busted doesn't exist online. Maybe they planned to add it later I don't know but I feel it should be there. Regardless, I think this along with the ability to surrender would add some good elements to gameplay if added. I also think respawning after player kills should be adjusted. Let me speak on getting busted first.
Getting busted - This happens when you resist until the cops waste you. Once wasted you will respawn in front of the nearest police station. The number of stars you have when you get busted would bring about different results. Something like getting busted with one star will be a small fine and you'll lose the weapon you had equipped at the time. Getting busted with 5 stars will be a huge fine and you'll lose your vest as well as all major weapons (sniper rifles and explosives). Some ppl are against losing weapons but this adds the needed threat to getting busted making being wanted waaay more intense and fun.
Surrendering - This is for those who have a problem with losing weapons. You surrender by either stopping your vehicle and not moving or standing still when on foot with no weapons equipped and letting them arrest you. Basically when you gain a wanted level regardless of how many stars it is the cops wont shoot to kill like now as long as you don't shoot at them. Instead they will look to arrest you. This means they will foot chase and try and take you down physically and cuff you. In the trailer I saw a guy getting chased on foot and I also seen guys getting searched and put in cop cars but nothing like this happened in the game.
When you surrender they'll put you in the police car and drive you to the nearest station. Once there a short cutscene will play of them walking you into the station like when you're walking into your apartment. You then spawn outside the station. Here is the cool part about this option. Once you are put in the cop car you'll get 3 choices similar to the taxi ride.
1) Skip to the police station - A cost will be added to your fine and you will respawn in front of the station.
2) See the ride to the station through - No cost added to your fine and once at the station you will respawn in front.
3) Request for a rescue - Read more on this here -->
I think this would be a cool addition online as well as offline. Not only being rescued but rescuing others. Like say Franklin got busted I can get Michael and Trevor and go rescue him. Online would be even more fun. I know this is far fetched as the current wanted system is far from this but one can still dream.
Respawning after death - When normal peds kill you then you should respawn outside the nearest hospital. If a cop kills you then you should be busted and spawn outside the police station. If a player kills you then how fast you mash the button should determine how close you respawn to the person that killed you. So if you mash quickly you will respawn near them. Mash slowly and you respawn further away. If you dont mash at all and let the meter fill on its own then you will respawn at the nearest hospital. I think this will fix spawn killing and add more dynamics to respawning. Seems more sensible to respawn at the hospital or police station IMO. Thought?