If you have ever wished that you could avoid the snarly road traffic and soar up in the skies, your wish may come true soon - that is if a new kind of vehicle makes a successful test flight/run next month.

Dubbed Terrafugia Transition, the car, whose wings fold up or open out with the push of a button, can switch from a two-seater roadster to an airplane in just 15 seconds. With the wings folded in, the car is small enough to fit in a normal garage, alleviating the need for a special place to park.

Also, unlike normal airplanes, it runs on unleaded fuel, so can be refueled at any ordinary gas station.

Equipped with a 100 brake horsepower engine, (similar to the Ford Escort), the vehicle is alleged to be able fly a distance of 500 miles on one tank of gas and drive at speeds of up to 115mph.

Besides the price tag, which is estimated to be about $200,000 USD, there is one catch. In order to take-off, the Terrafugia Transition needs an empty runaway of 1,700sq ft - a little difficult to find in the middle of a busy highway.

And then there is that slight problem of obtaining insurance, as the companies having never contemplated a flying vehicle before, have no idea how to classify it, or even price it. Drivers of course have to have a valid driver's license and a pilot's license before they can get behind the wheel.

However, all these are minor issues for people who really want the car and the company says it already orders from 40 people. If the vehicle survives its maiden test, the company is hoping to have the Terrafugia Transition in showrooms within 18 months. We for one can't wait to see it!

Sources: Dailymail.co.uk, Timesonline.co.uk