Like any other urban legend, those related to cars probably started with an element of truth, but were processed through the grand telephone-game known as media and communications. What's the greatest automotive urban legend?
We have to go with the infamous "stealth 200mph drug-dealer Lamborghini." Legend has it, an enterprising drug dealer outfitted a black Lamborghini Diablo with loads of stealth tech including night vision (a la Jackie Chan's Subaru in Cannonball Run) so it could make quick runs up I-95 from Miami to New York in one night, with no lights. Word is, he did exist and was caught thanks to some NY State Troopers and a spotter plane. But, you know, who really does know?
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