The vehicles were pulled of the lake at the foot of Jarvis Street, near Corus Quay.
The police marine unit recently located the vehicles when scanning a section of the harbour using a new underwater imaging device.
The pictures they took with their newly acquired side-scanning sonar unit showed that the cars were at the bottom of the harbour.
"The details that it provides are quite clear," said Const. Pat McLeod, when showing examples of the images the technology can provide to police.
McLeod believes the device could give the police the capability to search the entire side of the harbour within a matter of hours.
Officers from 51 Division are now handling any further investigation into the two cars hauled out of the lake.