Here’s another design. The designer calls this a roadable aircraft instead of a flying car. This one is based on a motorcycle with folding wings. The design is still in a prototype stage, and the company exhibits at the EAA Fly-In Convention to get feedback from the best audience out there. Joe Caravella, the owner of the company has made two presentations this year on roadable aircraft. He covered optimizing the compromises, construction techniques, licensing and testing. He made a presentation , and had his prototype at the new Homebuilder’s Hangar on the airport. The vehicle is currently drivable. The wings, tail and propeller drive system are next. 
Visit http://www.caravella.aero for more information.