My Your dreams of owning a flying car just got one step closer to reality. Massachusetts-based company Terrafugia (which is Latin for “escape the earth.” Clever, right?) recently received permissions and exemptions from the National Highway Safety Administration to distribute their road-to-sky vehicle in late 2012. The NHSA allowed the vehicle to use differing materials from standard automobiles, as well as allowing it to weigh more than 110 pounds than other vehicles in its class.

The car/aircraft, aptly named the “Transition,” will feature foldable wings so that you’re not constantly poking other cars on the interstate and a safety parachute (dear God, I hope so). However, you do need to land on some sort of runway, so your fantasy of making the neighbors jealous as you gently drift from the sky and into your driveway isn’t possible. The vehicle is being designed by MIT-trained engineers, who also apparently thought that a flying car needed a “cargo hold for golf clubs.” Thanks, I guess, but I would prefer a slot for my hoverboard. The vehicle is expected to cost “around $250,000,” so chances are that if you’re interested in buying one of these crazy machines, you already own a set of golf clubs.

In the meantime, make sure you have enough room on the road to hit 88 mph*, unless you’re got a flying DeLorean.

* Note: SocialTechPop makes no promises regarding the efficacy of your vehicle to travel through space and time. Although, if you’re reading this and a fifth Indiana Jones movie didn’t come out, you’ll know I’ve succeeded.

Also, for you BTTF diehards out there, I have no idea why the video ends with The Who instead of the Back to the Future theme, but bring it up with the uploader.