I am a first time buyer and my friends thinks that I should not take big risk and should start with small japanese car as they think one should buy these car when they achieve their career peaks? I think I can afford this car on monthly payment with lower emi per month. Should I take the risk and if yes which car?

If I am in your place I will go for 118i M . Since its new You can easily make 200k miles with out much trouble. I took a brand new 325i in 2001 and still its with me and the mileage is 175k, I love this car. If you are taking a japanese car you will hate driving after some time. 118i M is much better than c200. After all you are driving a BMW.

buy a used car first. It cost more then you think to buy a new car off dealer floor. I would get a used bmw or mercedes