The car dying was intended as it went into the water, but you were able to get it back out quite fast, a rare edge case. As for it disappearing that is normal when the script thinks your vehicle has died or its been recalled.
As M3E6 said, your vehicle went into the water, only a small portion of it went into water and got out of the water quite fast, so it was likely that the game thought your vehicle was destroyed. As for it disappearing , your vehicle was destroyed so it would likely disappear.