A hot rod that has been built to be of a ratty nature and never to be of new quality. Commonly confused with a hot rod under construction.
"That rat rod has no floor board.. and never will"
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A male rats genitals. The word is believed to be first used somewhere around 4000 years ago somewhere in India. The word is now used by modern street gangs near the u.s. mexican boarder.
Yo Holmes, did you see Jake last night, that homo was suckin on a rat rod.