Ben Mendelsohn plays 18 year-old Danny Clark looking to increase his cool factor in order to secure the affections of Joanna, played by Claudia Karvan.
Danny offers to take Joanna out for a ride in a Jaguar as a way to impress her, but his actual vehicle is a 1963 Nissan Cedric which Danny does not find very 'cool'. In need of a Jaguar in a hurry, Danny decides to trade the Nissan Cedric in on a more impressive vehicle.
Gordon Farkas a used car salesman played by Steve Bisley tricks Danny into buying a 1973 Jaguar XJ6. The Jaguar engine, true to form blows up. After a confrontation culminating in Joanna leaving, an investigation of the engine reveals it's been swapped by Gordon Farkas. Danny naturally sets about seeking justice and winning back Joanna's affections. The film is peppered with quintessentially Australian humour of the time and is considered a cult classic, especially amongst Australian motoring enthusiasts.