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An emergency ambulance, paramedic vehicle, or other medical assistance vehicle. Especially applicable when said vehicle has flashing lights on and sirens sounding. The passing of a Blood Wagon in full cry is usually very bad news for someone.
"Shit, I got blue flashing lights on my tail !"
"Chill out, it's just a blood wagon".

"Sorry I'm late - there was a crash on the way here, must have been nasty 'cos there were a couple of blood wagons there."
by eighthofseven October 23, 2007
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