Scott Henderson, 38, of Penns Lane, Sutton Coldfield, and barman David Doyle, 46, of Chingford Road, Kingstanding, were cleared of perverting the course of justice.
The two officers were part of a group who were following up reports of looting at a clothes shop on Chingford Mount Road when the car - registration number Y132 GHJ - struck the officers at about 01:00 BST.