A great way to describe a sport wagon with large wheels. Sport wagons, unlike their station wagon predecessors, are designed with stiffer and sportier suspensions meant to handle the extra weight in the back and are also quickly growing in popularity.
Can also be used to jokingly refer to a hooptie station wagon.
Tom: Dude look at that Dodge Magnum SRT-8!
Joe: Damn, that's a braggin wagon.