The Funky Phantom

When a gang learns that a farmer may lose his farm, they decide to enter the Looney Dooney in the race, and donate the prize money to him. They convert the vehicle into the Monstermobile. But that night, a criminal called the Raven steals it to keep them out of the race. They go to an abandoned saw mill to get it back. After Mudsy rescues them from a near-fatal ride to the grindstone, they recover the Monstermobile, enter the race, and win. They discover that Raven is Otis Carter, the bank president who wanted to foreclose on the farm.