Quick run down, it went a little something like this:
He went for a cruise one night and the car broke down, so he left it until the next morning. The next morning he went to where he thought he parked the car/broke down, but it wasn't there. He called the cops and reported it stolen.
Just about then his friend called and asked what was up, and he told him that his car had been stolen.
His friend then said: "What? Y'mean the car parked over by my house?"
...That's when he remembered where he really left it. (owned)