Did you ever wish you could have a flying car? Well wait is finally over. It’s the same car which you’re seeing on the screen right now. At first watch it looks like a monster flying in sky. Neither is this car very beautiful like other super cars, nor is it very powerful , but hey, its the only car which can fly and that’s what makes it special!

Woburn, Mass.-based Terrafugia Inc. said Monday that its prototype flying car has completed its first flight, bringing the company closer to its goal of selling the flying car within the next year. The vehicle — dubbed “the Transition” — has two seats, four wheels and wings that fold up so it can be driven like a car. Last month, it flew at 1,400 feet (426 meters) for eight minutes. Commercial jets fly at 35,000 feet (10.668 meters).

Around 100 people have already put down a $10,00 deposit to get a Transition when they go on sale, and those numbers will likely rise after Terrafugia introduces the “Transition” to the public later this week at the New York Auto Show. But don’t expect it to show up in too many driveways. It’s expected to cost a whopping $279,000.

The flying car has always had a special place in the American imagination, among others all over the world. Inventors have been trying to make them since the 1930s, according to Robert Mann, an airline industry analyst who owns R.W. Mann & Co. in Port Washington, New York.

The Transition can reach around 70 miles per hour (112 kph) on the road and 115 mph (185 kph) in the air, spokesman Steven Moscaritolo said. On the ground, it gets 35 miles per gallon (15 kilometers per liter).

Terrafugia has been working on flying cars since 2006, and has already pushed back the launch once. Last summer the company said it would have to delay the expected 2011 deliveries due to design challenges and problems with parts suppliers.

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