The event in which a person (usually male) exhibits o*gasm like symptoms in the presence of a rare and/or exquisetly modified automobile.
"When Nate saw that Lambo sittin on 24 inch blades, he had a car-gasm."
I think it is pretty much self explanatory if you ask me...You see a HOT car...and you just can't contain yourself!
Everytime I see a Nissan Skyline GT-R I have a car-gasm! Which may be better than the real thing!