The film is one of two released in 1976 that were based on a real illegal cross-continent road race that took place for a number of years in the United States (the other being The Gumball Rally).

The Trans-America Grand Prix is an illegal race held every year between Los Angeles (Santa Monica Pier) and New York City.

Other competitors include teenage surfer sweethearts Jim Crandell and Maryann driving Maryann's father's Chevrolet Corvette, middle-aged Terry McMillan in a Chevrolet Blazer, three waitresses, Sandy, Ginny and Wendy in a souped-up van, arrogant German driver Wolfe Messer in a De Tomaso Pantera, preppy African-American Beutell in a Lincoln Continental he has been hired by a wealthy elderly couple to transport to New York for them (unaware that he is using it to enter the race) and Buckman's best friend Zippo in a Pontiac Trans Am identical to Coy's.

Beutell's borrowed Lincoln gets progressively more damaged as the race goes on, while Jim and Maryann face engine trouble with a broken fan belt.

Switching to a 1969 Ford Mustang he borrows from some local hot-rodders, Coy has a last showdown with Redman, who has kicked Perman and Sharma out of his car after arguing with them.

Coy arrives at the finish line and is about to stamp his timecard, making him the official winner, when he is told about Zippo and Linda's accident and realizes Bennie caused it.

He tears up his timecard so it can't be stamped and gives the pieces to Bennie, who is taken away by gangster Lester Marks to whom he owes all the money he bet on Coy, presumably to be killed.

At the hospital, Coy and Linda enjoy their reunion, while Beutell delivers the Lincoln – now completely wrecked – to its horrified owners in front of a hotel in the city.

Directors Joe Dante, Jonathan Kaplan, Allan Arkush and Martin Scorsese have cameos, and former beach movie star and Transformers voice actor Aron Kincaid appears in a small role as one of two cops who pull over the girls in the van.