Hi, I have a 97 cadillac deville with custom rims and bad tires. I also own a parted out 98 camaro with stock rims and good tires.

my question is, can i switch out these rims so i dont have to buy expensive low profile tires or wil this cause problems. they both have five lug nuts and they seem to measure the same space apart.

No.

The rim offset is almost certainly different. Domestic FWD cars almost always have more rim negative offset than RWD cars. So evem if the bolt holes are the same, there will be clearance and handling issues.

http://en.wikipedia.org/wiki/Offset_(wheel)