No, police expected them to be there if he was lying. If he was telling the truth, then he left it all in the car in the garage.
Based on CD and SW we can not say that investigators expected the red bag and money wrappers to be in his car if he was lying and if telling the truth to be in the car.
First, the CD does not state that he claimed to put the red bag in the manila envelope in the Mosley--only that he claims to have put the Money/cash in the envelope from his car into the designated car. I would think LE asked him "where is that red bag now?" At that point, he could have said he left it in the car. But the CD, though it states LE looked for a manila envelope in the Mosley and for the money, does not mention looking to see if the red bag was in the car. Based on the CD, it's fair to say that he did not claim to have left the red bag in the car in the envelope or with the cash. What did he claim about the red bag as to its whereabouts post-drop off.
All we know for sure is that LE is looking for it in JW's car and among DW's effects. Thus, we can infer they think it COULD be still in JW or DW's possession.
Frankly, I believe--JMO--police think JW is still not telling the whole truth and not disclosing some role he might have played in the crime.
But I do not see that their litmus test to determine whether or not JW is still lying is based on this one detail and on its being discovered or not discovered in JW's car way post-drop-off.
I do see that for some on the board, the presence or absence of the red bag in JW's car proves him suspect or innocent, either lying or truthful. I don't see how.
A case is built of several pieces of evidence that corroborate or challenge witness statements. In most cases, LE will allow for a lapse in memory or one cover-up of something to protect another or cover up a more minor complication, infidelity, for instance. So a husband or wife lies about who she was with or where she was.
The red bag may be significant to LE's theory and to any subsequent charges, but I hope it is not the lynchpin of the whole case or of the investigation.