When you spot the most run downed car or truck (any other kind of transportation out there) EVER and you don't want to call it what it really is ( fugly, shit). Instead you take the easy route and say " Daymn you got's a wife beater car right thurr".

The term is not offending anyone, it's just a way of saying that your car is beat up and crappy. But in a nicer way =D