Well, better late than never I guess? Finally the "flying car" is going to be a reality - in 2015. Woburn, MA based Terrafugia has created "The Transition". A car that can not only drive on the road but also fly as well!

Part sedan, part private jet - The Transition has a 23 gallon take that can get 35 miles per gallon on the road and 1 hour of flying time every 5 gallons. Speed? About 70 miles an hour on the road and 115 mph in the air. Not too bad when you really think about it.

The Transition comes with 2 person cabin, air bags, automatic folding wings for road driving, and even a full-vehicle parachute.

The Transition does need roughly 1,700 feet to take off but Terrafugia is working on a new model, the TX, that will be small enough to fit into a garage and not need a runway to take off as it will have helicopter style propellers to get off the ground.

The Transition will be made available to the public, hopefully, by 2015 with an asking price of $300,000.