Originally Posted by GnokGnik
Sorry to be so pessimistic, but it's such a bad idea on so many levels...it is extremely dangerous, not financially responsible, not even useful for you yet, etc.
It wasn't even a choice for you. Your parents surprised you with a 415hp beast before you even have your license or a place to drive it to. LOL.
I am about your age and I would honestly settle for a slower, less expensive car with some $$$ for tuition and living expenses...if I had the choice.
If his parents can splurge an M3 for his 16th birthday, it's pretty safe to conclude that they will have more than enough to cover his tuition and living expenses, all the way up to a professional degree.