You will definitely have your work cut out for you. The simulation mode is where you should head after getting a few races under your belt on arcade mode. When you start a simulation, you really can't do much of anything. First let's take a look at buying a car. You can go visit the dealer and check out the used car lots.
Most dealers have a good selection of used cars that vary in make, model and year.
It is up to you to pick the best used car so you can head out to the track and make some money. Now that you have a car, you have to get your license before you can enter in any races. There are three different levels of licenses that you will need to get. Each level opens up certain races that you can enter. I suggest going for the B-class license first.