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Don't do it. Save up some more. It is also better to move up on cars slowly rather than taking big jumps. Get used to you 330 (which is a very nice car and I'm considering to buy one to make track day car), then move to M3 or even something in between.
Also $60/month for gas seems like you're driving 300-400 miles a month. I would even ask why do you even have a car? I know owning a car is all nice, but maybe zip car or something like that works better for you?
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2011 MINI Cooper S
previous cars: E92 M3, Z4MC, Z4 Roadster, E36 328 Sedan
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