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I would never buy a M3 for a 17 yr old... unless you've had extensive experience driving track days, etc. It's a lot of car for someone with just 1 yr of driving experience.
That said, if your grandma's willing to put 400+ hp into your hands anyway, I say go for the 09 M3. You're going to Art Center where you'll be working your ass off. You don't have time to deal with maintenance issues and potential repairs and expenses of a 9 year old car.
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