in Ebonic terminology, related to a car or the use thereof.
#1 Whip - an expensive, stylish Car, SUV or Motorcycle
#2 Whip - the act of driving a car in a very quick and haphazard way with sharp trns and high speeds.
#3 Whip - taking a parents car without permission.
Ex1: My Dad let me hold the whip so I can take my girl out tonight.
Ex2: Mom, this minivan isn't an SUV, you can't whip this around as fast!
EX3: You din't ask my permission and since I need that car for work, I can't have you whipping it whenever you feel like it.
A whip is just a car. I notice, as documented in the examples, that whip is most often used when you are talking to someone about their car.
"Friend #1: Hey, Eric, I like your new whip.
Eric: Thanks man, it's alright."
"Friend #2: Yo, Eric, I got a new whip.
Eric: Aww, foreal? What kind, man?
Friend #2: A Civic. But it doesn't work right now.
Eric: What's wrong with it? ..."
"Now I'm super-fly slick without a roof on my whip..."
-Lloyd Banks