It happened shortly before 3:00 a.m. Saturday on the 400 block of West Waverly Avenue.
"He pulled up to his home, got out of his car and the males walked up and abducted him and his vehicle and fled," said Chief John Norris, Cheltenham Township Police.
It was a disturbing surprise to neighbors.
"It's really shocking this is a neighborhood where everyone looks out for each other and nothing like that happens," said Carol Sweeney.
The suspects, believed to be about five of them, put a bag over the 27-year-old victim's head, kicked his girlfriend out of the car but didn't harm her.
A short time later, the victim's friend received a ransom call.
"His friend started receiving phone calls asking for money $50,000," said Chief Norris.
That friend then came to police and it was there that another call reduced the random to $7,000.
After that, a call came from the victim.
"And at 7:55, he was released and called us from Juniper and Sycamore," said Chief Norris.
That area was about 15 minutes from the abduction scene.
When police arrived, the victim had serious head injuries, officers believe he was pistol whipped. He was taken to Abington Hospital for treatment.
The victim's 2006 white Infinity with Pennsylvania license plate HTZ7098 is still missing.
No money was ever exchanged and the suspects remain on the loose.
The victim says he couldn't identify his attackers or say if they were armed.
Neighbors are still concerned.
"Looking over my shoulder a little bit and staying in after 11," said Sweeney.
However police say neighbors shouldn't be worried.
"It doesn't happen every day, it doesn't look like a random act, I'd be comfortable in my neighborhood," said Chief Norris.
The investigation is ongoing. Anyone with information is urged to contact Cheltenham Township Police.