Driver crashes $250,000 rare 1969 Ford Falcon GT into tree in Carrum Downs, Melbourne

A vintage car driver’s Melbourne Cup Day outing has ended in a citizen’s arrest and a repair bill of more than $250,000 after the car crashed into a tree in the city’s southeast.

Neighbours said the man was hooning before he crashed the 1969 rare Ford Falcon GT on on McCormick’s Rd in Carrum Downs about 8.30pm.

WATCH THE VIDEO ABOVE: Driver’s $250,000 mistake ends in citizen’s arrest at Carrum Downs in Melbourne

CCTV shows the red car spinning uncontrollably before coming to a stop.

“Bang, it was the worst noise you’ve ever heard,” one neighbour told 7NEWS.

The driver tried to start the engine multiple times to get away but the neighbour took it upon himself to ensure that wasn’t going to happen.

“I grabbed (the keys) out and he ... couldn’t get going,” he said.

The driver then allegedly attempted to make a desperate disappearance on foot, ditching the car and his passengers.

However several neighbours jumped and performed a citizen’s arrest, alleging to 7NEWS the driver tried to bite some of them in his attempt to escape.

Emergency crews were left to free two passengers who were taken to hospital with minor injuries.

“The guys in the back seat I think were pretty shook up,” the neighbour said.

The rare $250,000 Ford, which is now a complete write-off, was only purchased by the driver five months ago.

Its previous owner, Reno Natale, spent years restoring it to mint condition.

“I was in tears when I saw the car,” he said.

“We spent a lot of money and time on that car, it was a family affair you know we all worked on it.”

The driver was also taken to hospital with minor injuries.

Police say their investigation into the accident remains ongoing.

Anyone with any information or relevant dashcam footage has been urged to contact Crime Stoppers.