Classic 80s film don’t know name

You ever seen a movie where this kid wants to get a car so he can take this girl to a dance. He pays 50$ for this car this guy in a tow truck pulls out of the river, he had to borrow money from his little brother. The car is soaked and the headlights go out while he has the girl riding with him. So they both hold flashlights up so he can see the road while he drives and there’s headlights coming at him but it turns out to be 2 motor cycles and they go around both sides of the car. He takes the girl home, she’s a brunette, the car is white 50s style convertible. Fast forward like 10-15 years and he’s outside her house with a red convertible and a rabbits foot keychain. That’s all I got

License to Drive (1988)?