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referring to a parking space in a full parking lot, occupied by a small automobile, making it appear that there is an available space. When you go to pull in you realize there is a cheap ass econobox filling your precious spot.
Gunther: Man, fuck this. There's gotta be at least one spot.

Todd: Oh dude right there!

(car begins to enter parking space)

Gunther: God dammit! That's totally a phantom space! That's why I hate Miatas!
by Bitchblaster December 26, 2006
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