Looks like FreeCar Media has revived its media buzz.

ARD Ventures, a venture capital firm, has studied the phenomenon of wrapped cars and estimates that motorists and pedestrians see a single vehicle’s advertising message as many as 70,000 times a day.

[Manhattan motorist Brian] Katz was matched with his advertisers by FreeCar Media, an advertising agency in Los Angeles that claims to have a database of more than a million car owners who say they are open to wrapping their cars in ads for a fee, said Drew Livingston, president of the company.

The sponsor also pays as much as $5,000 a car for the wrap job. Generally, a car can qualify if it has enough surface area for a sizable ad and is no more than five years old.

I was intrigued enough by the concept of having an advertiser basically cover your monthly car payment that I remember reading about it several years ago, when the business was just rolling out. I’m almost sure I posted something about it, but I can’t find a trace in the archives on this site or the old blog. I’m pretty sure I endorsed a deal that extracted money from what’s essentially a depreciating asset (i.e., a car you keep for more than 2-3 years).

Sadly, I don’t currently own a car, so I’m rooked once again on this. Although honestly, the dual prospect of participating in this offbeat advertising exercise — even with the odd brand-ambassador personal requirements — and having the vehicle pay for itself is actually tempting me to go tire-kicking. We’ll see.