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1.
"Chasing Cars" is the third single from the UK band Snow Patrol's fourth album entitled Eyes Open. It was released on July 24, 2006 in the UK

The phrase "Chasing Cars" came from Gary Lightbody's father, in reference to a girl Lightbody was infatuated with, "You're like a dog chasing a car. You'll never catch it and you wouldn't know what to do with it if you did."
Let's waste time
Chasing cars
Around our heads

I need your grace
to remind me
to find my own

If I lay here
If I just lay here
Would you lie with me and just forget the world?
by Eoin Maxwell January 05, 2008
 
2.
If you're trying to get with someone way above your level of attractiveness...like way way way way way above your level of attractiveness.

A.) You'll never catch one.
B.) You wouldn't know what to do with one if you caught it, which you won't.

Just let her go, bro.
Let her go
I've been trying to get with Denza for the past couple of weeks...then I realised that I'm just chasing cars.
by squidofsymphony November 23, 2010
 
3.
To masturbate whilst laying on a bed and attempt to ejaculate out of the window onto a passerby. Also see Chappers
" Lets lay here, chasing cars, on our own " Snow Patrol
by Rob St Evenage March 06, 2008