Detectives were informing the family of the missing man.
Earlier a spokesman said: "Officers were called at 2.52am this morning (Thursday) by a member of the public who was concerned for the welfare of a man who had left his home in Newport.
"It’s believed he left driving a van.
"Police received information a short time later that a vehicle had gone over a cliff at Culver.
"Due to the incoming tide and current weather conditions, it is not currently possible to retrieve the vehicle.
"A vessel from Hampshire Constabulary’s Marine Unit is en route to the coast off Culver to assess the state of the vehicle, confirm its identity, and whether anyone is in the vehicle.
"A 20-year-old man from Newport on the Isle of Wight remains missing at this time. Officers are in contact with the man’s family.
"There is no evidence to suggest suspicious circumstances or a crime at this time, but police must keep an open mind until the vehicle is assessed and recovered.
"Police would like to thank HM Coastguard for its assistance."
Coastguard rescue teams and Bembridge RNLI lifeboat were called to the scene during the night.
At around 11.15am Coastguard sector manager Mike Forsyth-Caffrey said low tide was expected at 2pm.
He said a Coastguard team member had abseiled to about 20ft from the bottom of the cliff to help direct a police marine unit launch closer to the partially submerged vehicle.
Owner of the Culver Haven Inn Dan Maunders, 49, who lives at the pub, which is close to the scene, said he and his partner Deborah Johnson had not heard anything during the night.
"The first I heard about it was when my son phoned from Southampton and said he'd heard something on the radio.
"I believe it happened during the night. I was very shocked when I found out."
Coastguard search the bottom of Culver Cliff, on the Isle of Wight. Pictures by Jamie White.
Culver Cliff as seen from Yaverland this morning. Picture by Jamie White.