Ok, if anyone want's a fast suggestion guide to use which cars for which events, here is shown below: (And it's not in order for the races) (Note: Credit to psx.ign.com)

Special Events:
FF         - Mitsi. FTO
FR         - RX-7/NSX/Esprit
MR         - Clio 24V/Supra/TVR
4WD         - Lancer EVO VI RS/Skyline R34
Light-Weight     - Tommy Kaira M13/Mini (for challenge)
Luxury       - Mercs/BMW/Lexus/Altezza/Galant VR-4
Open-Car      - S2000/Viper (for last race)
Compact      - Your own favorite car
Muscle-Car      - Any Muscle-car or Viper
Historic      - Nissan 240Z/Muscle-Car
Station Wagon   - Impreza Sti Wgn
Pure Sports     - Ruf/TVR
Gran Touring   - Skyline/Supra/RX-7
80's Sports Car   - '89 Skyline
Tuned N.A No.1    - Viper/Civic Type-R/FTO/TVR
Tuned Turbo      - Skyline R34/Skyline R32 or R32.5/RX-7 GT-C
Gran Turismo All Stars - Unisca Jecs Skyline/GT-40/ZZ-II/Skyline
Super Touring   - Lancer EVO VI/Impreza Sti
GT 300      - Lancer EVO VI
GT 500     - Skyline R34/Escudo Pike Peak

GT-League:
GT-Euro     - EVO VI RS
GT-Pacific     - Impreza/Lancer
GT-World     - Skyline R34/Viper/Supra/Mitsi GTO/Castrol Supra/Kure R33 Skyline

Endurance Races:
Grand Valley    - Viper/NSX/RX-7/Supra/Skyline
Apricot Hill    - EVO VI
Seattle 100miles    - EVO VI/Viper
Laguna Seca     - Skyline R34/3000GT/Escudo Pike Peak
Rome City 2hrs   - Skyline R34/Escudo Pike Peak/Calsonic Skyline
Trial Mountain   - Choose your favorite (Ex: Mini Cooper 1275)=A very Fun but expensive car
S.S Route 5     - Skyline R34/Escudo Pike Peak   

Transmission Settings: Increasing the Max. Speed Even Further

Well, go to the Machine Test and choose 'Max Speed' to test your car's max speed. Go to the Settings, go to the Gears Settings, and put all of the gears to their lowest and start the test. See your car's max speed and if you want to increase it even further, quit and go back to the Settings. Push [Start] while highlighting one of the gears to return it to its default settings, and change the gears to their lowest settings again. Take the test again and the max speed should have either increased or decreased. Now quit and go back to the Settings once again. You see the option all the way at the bottom of the menu with the gears? Well, select it and move it to the right a few, then push X or O to accept. Then push [Start] and it'll return to its default number. Go to the gears and make them the lowest possible. Take the test again and the max speed should have increased. Note: Don't do this for all cars since the higher your max speed, the less acceleration you have. You can also only do this for the final gear afterwards.

                                        
Tips On How To Get Fast Cash

        -
Buy a cheap car when you start out soo you can ue that extra money to upgrade that car, or save up for another car.
        -Win multiple races. Experiment with different races to see which one you can win easily, and which one gives you the most cash for the win.
        -Sell extra cars. If you enter any of  the Challenge races, you can win hidden cars. Win these challenges over and over to win cars, then sell those cars for a profit.
        -Instead of buying a cheap car, then trying to upgrade it, try to get all golds for some of the license tests,that way you get a high quality car, without spending a lot of money on a used or new one.
        -Get All Golds for every license test, or at least the International-C and International-A tests. The reward cars are WELL WORTH IT.
Use the cars you won from the licensee tests (either the FTO LM Ed., or the 3000GT LM Ed), and enter the Grand Touring Car Trophy Cup. Win these races (preferably the last race), a lot of times so you can get a lot of Unisia Skylines, then sell them for an easy 250,000 CR. If you do this for a while, you'll get a TON of cash.
        -This is for non gspro or cdx users thhat have a "normal" gameshark Enter this code 800B9320 E0DC 800B9322 115C When you start your game go to the Honda used lot and go to the car named "--" and it will be the CLK, buy it then turn your shark OFF, it will freeze the game up when you enter a race if you dont turn the shark off. The CLK Race Car, which can be yours for only about 6cr, resells for 250,000cr. Drop about 24,000cr.
If you get the Escudo from Suki, you can race it in the All Star race, the last page of the special events, where there are five races to beat. If you pick the third race,you can get the M12 all the time. It's cost is 500,000 credits.
Tips