The car's fuel tank appeared to have been drilled through, and it was leaking petrol into the gutter about 2.30pm in Stone St, Bradford.
A note placed under the windscreen wiper of the 1996 Mazda Familia seemed to suggest the drilling was an act of revenge after the owner had failed to return a borrowed tool.
It read: ''Can I have my hammer back??''
A police spokeswoman said officers were ''working to contact the registered owner to establish the circumstances.''
There was no indication the vehicle was stolen.
''Apparently it was being taken to the wreckers,'' the spokeswoman said.