Verses 1-3, What you used to be like: sinful, living according to the world's rules, giving in to your fleshly desires
Verses 4-6, What God has done: God, our of mercy and love, saved us by grace.
Verse 7, Why: so God can continue to show us the immeasurable riches of God's grace in Christ Jesus.
And, remember that God refuses to give up on any of us. See Donald Haynes essay in UM Portal about God's Stubborn Love.