This is essentially the micro-engineered version of huge spaceship sized devices available on Phase World. This version is available for all manner of vehicles. The system itself is a huge generator that encircles the vehicle with a field that bends light waves & the other emanations from the vehicles to create the effect that the vehicle so protected virtually disappears from view. While the vehicle may be invisible, the effects it's movement may create, will still remain, it may still create tracks (or wake if on water) & it will still retain it's original shape & mass (Cannot pass through walls, people, etc.), water displaced by use of such a device is still displaced & may create a curious boat shaped impression in the water. Creatures & people with the ability to see the Invisible can see it to the effect that an image appears to them, but it is blurry & distorted - no specific details are visible, just a general shape.
Drawbacks are it's size, it needs an area roughly equivalent to an area occupied by the engine of the vehicle, & it requires it's own independant power source - because of the energy required, it must be a nuclear or anti-matter type of generator - it could serve a dual purpose of powering energy weapons, but only if the cloaking effect is dropped before the guns are fired. Non-energy using, or self-contained E-weapons can be used while the device is active, so bullets, energy beams, & missiles could seemingly appear in mid-air.
Since the vehicle is virtually undetectable, it is protected to an extent since only random fire, or time fused weapons could touch it.