The incident happened at the busy intersection of Pacific Boulevard and Davie Street, when a silver Audi and black Nissan SUV collided near two nine-year-old boys, Russell and his friend Spencer, who were out cycling with their parents.
The SUV ran up on to the sidewalk, pinning Russell and the boys' bikes underneath it and knocking Spencer out of the way.
Spencer escaped uninjured but severely shaken. Russell suffered a fractured ankle, cuts, bruises, scratches and a black eye.
Speaking exclusively to CBC News after returning home from hospital, Russell said he's been thinking a lot about all the people who helped him.
"I'd like to say a big thanks. I would have been more injured," he said.
He says he doesn't want to think too much about the crash.
"It was like it was coming towards me. I kind of felt like I had to jump out of the way. I tried. But then it just caught me. I did manage to escape it a little. It would have caught my leg."
"My foot was under the tire, but I didn't really feel it because I was too in shock."
'Kind of amazing'
Russell says it felt like a miracle when the tire lifted off his ankle.
"I saw the car moving away from me, kind of amazing... They must have been pretty strong to do that."
He says he goes into shock and shivers sometimes thinking about it, but he still thinks he was more lucky than unlucky. And he says, he is very grateful to everybody who helped him.
"There's a lot of nice people."
The driver of the SUV was also injured, but was taken to hospital and is believed to be in stable condition.
The 27-year-old female driver of the Audi sped away from the scene, with extensive damage to the car's rear-passenger area.
She was later apprehended by police in Vancouver's False Creek area.
Both drivers have been interviewed by Transit police, who continue to investigate the incident.