As a habitual DE driver I use Harrys Lap Timer and find it excellent. Is it pinpoint accurate (using the iPhones internal 1 Hz GPS)? No. But it is more than accurate enough to use for gauging progress, examining split times, recording video of your line, etc.
Unless youre going to commit to serious data analysis of your lapping, Harrys is all you need. Great app!
BoxsterPete about Harry's LapTimer Grand Prix, v19.0.20