Car owners on Mansfield’s Little Carter Lane were targeted on Saturday evening about 8pm.
One resident reported seeing two teenage boys running away after finding the bonnet of his car covered in oil.
He said: “They poured oil over mine and my neighbours car - it has gone through the vents at the bottom of the windscreen and ruined my window wipers.
“I used that much petrol trying to get it off it has blistered all my paintwork.”
A Nottinghamshire Police spokesman said enquiries were ongoing. If you can help phone 101 or Crimestoppers on 0800 555 111.