I had an amazingly rough time starting this game when I first picked it up. Here are a few things to help you out.
This game is won in the corners. It's great to have a 1000+ hp car, but if you can't turn it, you'll get slaughtered. Spend more time learning corners than messing with settings, and you'll improve faster.
Brake early. goes hand in hand with cornering. You can't turn if you're going too fast. the blinking red light between the dials really helps out.
Slow in, Fast out. The sooner you get back on the gas, the faster you'll be able to go. This builds off of breaking early, and cornering.
My advice is get all golds on the B license and you'll win a Mazda Miata. give it an oil change and super slick tires. Then run the Roadster endurance race. This will drop 100,000cr in your account. You can then pick up a Lancer, or Mustang. These 2 seem to be the popular choice for your second car.
Just my 2 cents. BTW I'm on my third time through it.
Enjoy,
AO