Police alleged the man had stolen the vehicle from Kallangur, in the Moreton Bay region north of Brisbane, this morning.
In an apparent attempt to get away later in the day, he was filmed rolling out of the car while it was driving in Logan, south of the capital.
The runaway car crashed to a stop just moments later.
Cameras captured the driver running into a nearby unit block, seemingly armed with a handgun.
Heavily armed police arrived and a 34-year-old man was taken into custody.
Police said there were two cars involved in the chase.
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A Holden Captiva was the second, though it wasn’t stolen.
Police said both drivers are known to each other and were travelling in a convoy.
So far this year, 1650 vehicles — about 60 a week — have been stolen across south-east Queensland.
In many cases the keys to the cars are stolen from within the victim’s home.
Senior police sources told 9News thefts were becoming so common that advised people to leave their keys on the kitchen bench and not in the bedroom to avoid confrontation.