Meet the $US279,000 flying car

Flying cars have long been the stuff of science fiction. Now one company is turning that dream into reality.

In a recent interview on Mashable, Terrafugia co-founder Carl Dietrich revealed his company is working on a car, called the TF-X, which can turn into a chopper at the touch of a button.

And at a low price tag of just $US279,000, a flying car is sure to make a far better status symbol than a plain old Porsche or Ferrari.

Unfortunately, the price tag will put this novelty vehicle out of the price range of most motorists.

But could there be a market for who want to lease or go for a ride in a limited produced novelty vehicle, such as the Terrafugia TF-X? Could there be room for more than one company in the flying car market?