Lovely teen Julie Richman (Deborah Foreman) is steeped in the excessive, pink-clad culture of the San Fernando Valley, complete with her narcissistic boyfriend, Tommy (Michael Bowen). At a party, however, Julie falls for an edgy Hollywood punk named Randy (Nicolas Cage), and the two begin an unlikely romance. Torn between fitting in with her superficial friends and embracing a more non-conformist lifestyle, Julie ultimately has to decide to stay with Tommy or take a risk with Randy.
After being fired from his job, Los Angeles slacker and punk rocker Otto (Emilio Estevez) lands a gig working for an eccentric repossession agent named Bud (Harry Dean Stanton). At first, Otto is reluctant to work as a repo man, but he grows to love the fast-paced job. After learning of a Chevy Malibu that has been given a $20,000 price tag, Otto embarks on a quest to find the car with the beautiful Leila (Olivia Barash), who claims the trunk’s contents are otherworldly.