the coding may allow for better than CD quality but it's unlikely that your modern head unit, speakers or even headphones are up to the same standard.
Neither are most turntables, budget (below a few hundred pounds) cartridges offer roughly the same range as a CD player.
Listening in the car - forget true hi-fi unless you have a ridiculous budget and are happy to build completely ground up.
FLAC 24/96 is indeed wonderful but most hi-fis won't do it justice