The first American-made flying car completed its first flight Monday, bringing it a step closer to going on the market next year. The Terrafugia Transition, which requires a runway to launch and will cost $279,000, flies at 1,400 feet and folds up so that it can be driven like a car. The government has given Terrafugia several key legal exemptions from automobile standards to make it a reality. More than 100 people have already paid the $10,000 deposit to get a Transition when it goes on sale. It will likely be marketed to the western United States, where the company believes it might catch on as a vehicle to travel long distances instead of driving.