When I was your age I purchased an old clunker (a 5 year old american car). I purchased 4 more cars after that (trading them as the time was right trading etc). I then realized that paying interest is for the birds so when I was in my 3 car I saved my money and purchased my first new car in cash.
I am only telling you this since the feeling you have now will only be sweeter once you can put the cash on the table and say to yourself "It's all mine" Also you do have plans for that Condo.
So my recommendation would be get a second hand M3, in fact I recommend a e46 there are quite a few on the marked around $30K IN THE USA ... then save your money and once you have half the price of a new one then go for it and get that spanking new car.
You can do it you are a fine young man making 70K ... just don't burden yourself with such a high monthly car payment ... it will spoil the fun and you may end up selling the car and loosing your investment.
Remember, you drive a $80K car off the lot and it depreciates right away.
I purchased my first 2002 e46 M3 in 2004 the price was $48K with 31K KM and I then sold it in the spring of 2010 for $25K having 97K KM on the clock.
Good luck and as others said ... if you have to think about it don't