Officers sped through the streets of west London in the white Lamborghini Huracan, reaching 63mph in a 30mph zone, according to an onboard tracking device.
The car, which is loaned out for £4,000 a week, was pulled over in Bath Road, Hounslow , on Wednesday (June 1) night and seized after a police search showed it appeared to be uninsured.
But Erwyn Mackee, owner of rental firm City Supercars, said new insurance had been taken out that day and the details failed to show up on the database.
The 32-year-old claimed police could have driven the car 200 metres to the nearest pound but instead appeared to have taken the car on a "joyride" via a longer route.
The onboard tracker recorded the car travelling at speeds of between 47mph and 63mph on the Northern Perimeter Road in Hounslow and West Drayton , where the limit is 30mph, shortly after 1am on Thursday (June 2) morning.
'If you or I were caught doing that speed we would be given huge fines'
Mr Mackee, who said the car was being taken to Heathrow on its was to a client, when it was impounded, had to pay £150 to get it released on Thursday morning.
He tweeted the Metropolitan Police that day, saying: "Your officers unlawfully impounded our Lamborghini tonight&went for joy ride at over double speed limit."
He said on Thursday: "The tracker is picked up by our insurer and every time it breaks the speed limit it is logged so this will be costly. I'm going to have to explain this to out insurance company as well.
"And 60 mph is really unsafe in a 30 zone, nobody should be doing those speeds.
"If you or I were caught doing that speed we would be given huge fines. It's just crazy."
'It's just an amusing incident'
However, he appeared to be in a more understanding mood on Friday (June 3) morning.
"The police have been very professional and polite, and they are looking into this very seriously," he told getwestlondon .
"It's just an amusing incident. People get stopped all the time by the police for speeding but police are people just like us and occasionally they will do a bit of speeding. There are no hard feelings at all."
Mr Mackee added that although the story had gone viral and was causing much amusement on social media, he had seen no upsurge in business as a result of the publicity.
'Police looking into matter'
The Met Police said the driver of the vehicle had been pulled over by officers on routine patrol in Bath Road, near to Heathrow, on suspicion of driving without insurance.
"The car was taken to a pound near to Heathrow police station. It was driven there by an officer via the Northern Perimeter Road, which we are satisfied is a direct route.
"Locally this matter will be looked into to establish the exact circumstances of what took place.
"It was established that the vehicle did have adequate insurance, which had been arranged on June 1 but the details had not been added to Motor Insurance Bureau records. The vehicle was returned to its owner at 8.30am on June 2."
Drivers of super cars in Knightsbridge were recently warned they would be fined if caught revving their engines loudly or honking their horns , following complaints of "annoying" behaviour.