One approach would be to create a custom entity for the car. You would create appropriate attributes on the custom entity to describe the car's specification - such as manufacturer, colour etc.
The car entity would be parented either by an account or a contact (more likely) so that the car would be owned by a customer. When the car transferred to a new owner then the car would be re-parented in CRM. Note, that this would not maintain a history of previous owners so additional customization work may be needed to record this.
On the face of it your requirement doesn't sound too difficult to implement.