Have you looked at the Dahon mini-bikes? I have a HammerHead and I can get it in my car boot/trunk by dropping the front wheel and saddle. Oh, and the pedals which are quick release.
It doesn't fold, but it's very compact, and the real clincher is that it rides like a large bike. It would also be easy to bling it up a bit once you have decided if you like it or not. The suspension fork is just right for the purpose, but I think they have done away with that now.
I've got lots of bikes bikes, some of which are several times the price of the HammerHead, but I'd get rid of them before I would part with the HammerHead.