This new word lead me to the Urban Dictionary www.urbandictionary.com.
Here are two of the better definitions.
Any car that meets the following: a) driver must enter car through passenger side b) three different brand and size tires - 3 of them missing hubcap c) exhaust is held up by half a clothes hanger - other half replaces the antenna d) backfires every three blocks - loudest backfire being when car is turned off e) must open door at drive-threws as windows don't roll down f) you only get one AM station and the tape deck eats all tapes inserted g) can't open the glove box as the whole thing will fall out h) if you let go of steering wheel while driving you'll make a u-turn i) must manually move blinker lever up and down as it no longer blinks on it's own j) must keep one foot on brake and one on accelerator when at a complete stop k) has had the same temporary registration sticker in the window for the last 18 months l) has all the above issues but still has a $200 professional tint job
"Hey fool...you gotta have the phattest hooptie in town!"
Hooptie finds it's origins dating back to the mid 1950's. The original, corrupted phrase is 'Coupe D', referring to a Cadillac Coupe deVille. Over time, Coupe D was rolled together into hooptie. Used to describe everything from "any old car" (thank Shaq for that) or more specifically a large domestic sedan. Popularized by Sir Mix-a-lot, the word moved from a mere description to a slur. Oddly enough, the word can have a variety of meanings, depending on the context, ranging from pride of ownership to an outright insult.
"Man, check out this new hooptie I picked up. $500 and the dash is still perfect!"
"Dammit! my (insert cool car here) is in the shop. Guess I'll mob the hooptie to work."
"Well, it might be a hooptie, but hey, it's got it's own class of demolition derby."