A vehicle bug out bag is meant to help you survive 3 - 5 days if stranded in an emergency or if you need to leave your vehicle behind in a survival or emergency situation.
Often when a hurricane is approaching, roads become blocked and people must leave their vehicles and walk out. When disaster strikes, you need to have a survival kit to keep you alive long enough to get to shelter of some kind.
A vehicle bug out bag is just this. It contains everything you will need until you reach shelter.
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http://www.thediyworld.com/blog/?p=661