The incident, which happened in the Deerpark Road area, was reported to police shortly before 2am on Saturday.
The Northern Ireland Fire and Rescue Service attended the scene and extinguished the fires, but the cars were unable to be salvaged.
One of the owners told UTV it isn't the first time such an attack has been carried out.
"It's happening frequently," he said.
"Several times a year, there is huge vandalism - cars being trashed, wing mirrors being smashed, acid being put on cars ..."
Investigating officers are appealing for information from anyone who noticed suspicious activity in the area.