I looked around online and tested some myself. The most efficient races for credit grinding seem to be Fisherman's ranch and the first race of the PanAmerican cup. Neither of these really satisfy the issue of buying an $18m car, or even a $2m car for that matter, but they do seem to be the best options available.
Fisherman's ranch was nerfed from the latest patch, but you can still earn $45k in about 3.5 minutes with a clean race. The big catch there is "clean race". Personally, I've never been good at dirt tracks in racing games, and so this one took a bit of practice to really nail down. I can consistently win the race now, but I probably fail the "clean race" objective 10% of the time which drops the winning down to $30k which is not a valuable use of time.
The PanAmerican Cup first race (Blue Moon Bay) seems to be the most efficient, if you have the right car. You have to run 6 laps around the track, but you can turn those laps in 30-35 seconds in the Dodge SRT ($1m to buy). So you're once again around 3.5 minutes for a full run. This track nets you $52k with the clean race bonus which is super easy to get since it's a triangle track with long & wide straight aways. The only downside to this track is the number of screens that you have to go through through in order to repeat it as it's part of a championship series.
Blue Moon Bay gives more credits per minute of race time, but Fisherman's Ranch might be more efficient overall since you can immediately Retry the race rather than going through multiple loading screens (assuming you can always get the clean race bonus).
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