This paper describes the history, design objectives, design process, and regulatory limitations applicable to the development of a new flying car, the AEROCAR 2000. The author owns and operates (fly and drive) one of the five AEROCAR Model 1 flying cars produced in early 1950. From this perspective and experience, the author has examined the needs and demands of a future flying car that would be similar in concept tot he original AEROCAR machine but thoroughly modern in design, performance and safety. The methodology has included five computer based design studies, eleven remote controlled model aircraft and an active flight simulation system of the proposed car and flight control system. Drawings and specifications are included.