Insurance investigator Maindrian Pace and his team lead double-lives as unstoppable car thieves. When a South American drug lord pays Pace to steal 48 cars for him, all but one, a 1973 Ford Mustang, are in the bag. As Pace prepares to rip-off the fastback, codenamed "Eleanor", in Long Beach, he is unaware that his boss has tipped off the police after a business dispute.

Two highway patrolmen think they are working on the side repossessing cars. But eventually, they realize that they have been tricked and are actually stealing the cars.

After the attempted theft of his daughter's husband's car, LAPD Captain Gibbs declares war on master car thief Maindrian Pace, whose insurance investigation company provides the perfect front. A South American drug lord pays Pace and his team to steal 48 cars for him, so they set out on the job while the police frantically try to track him down. Their efforts pay off when Pace's boss double-crosses him and tips them off on his next job. Police pursue Pace in "Eleanor", the last of the cars needed to fulfill their contract, through southern California as he tries to get away.