I DO have some problems winning races and drifting tho', anyone got some techniques to share? 
Here's a few:
Use the manual transmission. The car is a bit faster than the auto version, and most of the stupid driving tricks you can do in the game are easier with the manual.
Drafting (aka slipstreaming) especially in the beginner course, can make you go faster than your top speed. The manual Hornet's top speed is 201 mph, you can go 208 by drafting.
Learn to drift. The last turn in the beginner course is made to teach you how to drift. Two ways to drift: Slam on the brakes and enter the turn, then use the gas to control the rear end, or downshift in the turn. When you get used to it, use both.
Downshift to slow down. This is an arcade racer, you can't blow the engine up overrevving, so if you need to slow down in a hurry, throw it into 3rd and you'll almost instantly be going at 3rd gear's top speed, which is around 170mph. Doing this in straights is pretty safe, but it's dangerous around corners unless you are trying to initiate a drift.
If you have the HD versions, look at the leaderboards and download the videos for the top players. See what they do and do it yourself! The top times use glitches for the best time, but you can still learn something.
If you are playing on Saturn, unlock the orange car and use it. It's not the fastest car, but it's the easiest to drive for a rookie.
