Young families and the elderly and infirm from the Glens, Coolessan Walk and Woodland Walk areas will now be forced to fork out for new tyres after a gang went on the rampage over the weekend.
Tyres on up to 19 cars were slashed during the incident, which occurred overnight on Saturday – with many of those affected being woken on Sunday morning by the police knocking on their door.
Meanwhile, on Friday, an elderly man's home was trashed.
Local DUP councillor George Robinson visited the area at the weekend and said that in the current financial climate, the attacks will not only cause inconvenience but also hardship for struggling householders.
"The people who are going to suffer here are the elderly and people with children," he said.
"We are in the middle of a credit crunch and this is the last thing people need. Money is already short, without people being forced to buy new tyres.
"I spoke to one man who has a heart condition and needs to use his car every day and has to buy two new tyres at £50 each."
He added: "As well as this, on Friday a pensioner who lives in the Glens area came home to find his house was trashed. They turned out all his drawers and made a real mess, they broke in to his shed too. Nothing was taken, but understandably this man is very upset."
Councillor Robinson said that following the arson attacks and this new spate of vandalism, people in the area were becoming too afraid to speak out.
"No one wants to go on record and criticise these people because they are scared of reprisals. This is an awful situation and it needs to stop."
One woman who lives in the Coolessan area and who did not want to be named, said she saw a gang of up to 20 people congregating behind her house on Saturday night.
"I am disabled and I keep myself to myself, but these people don't care about anybody," she said.
"There was a big crowd of people, about 20, outside my house on Saturday night but I don't know if they were anything to do with the cars getting wrecked or not."
United Unionist Coalition councillor Leslie Cubitt said that he has been given the names of people suspected of causing trouble in the area and that he will be taking the information to the police.
"I am meeting the police this week about anti-social behaviour in the borough and I will be asking them about these incidents," he said.
"I have been given the names of some of the suspected ringleaders in this area and will be passing this information on."
Appealing for information, a police spokeswoman said: "Detectives in Limavady are appealing for witnesses after a house was ransacked in the Glenroe Walk area.
"It is understood the culprits gained entry to the property sometime between 9pm on Friday November 14 and 12.30am the next morning.
"At this stage it is not believed anything was taken however police are keen to speak to anyone who saw suspicious activity in the area."