Help for young college student

[SirSwine]

8 years of college almost over. Graduate with a doctorate degree and a job that pays 51/hr. Work 36-44 hrs a week in a small Texas city. Rent, electric, cable, etc. is a flat $500USD/mo.
Chinese government pay for school so no debt. Full US citizen in 5 yr.
I want to buy fast European car. BMW M3 year 2008, 48000USD. Only big purchase. Is this wise?