The Wraith (1986)

Packard Walsh and his teenage gang force kids with cool cars to race for pink slips.  They always win even if they have to cheat.  When Packard discovers that Keri, a girl he wants for himself, is dating high school student Jamie, he and his gang decide to murder Jamie.

When stranger Jake rolls into town on a motorcycle and enrolls in the local high school, he befriends Jamie's brother Billy and charms Keri, who is now dating Packard.  Keri is afraid of Packard as he's a psycho stalker who will beat up anyone who talks to her.  When Billy gives her a ride home after work, he pummels Billy to teach him a lesson.

For reasons never explained, the Sheriff doesn't do anything about Packard's gang.  So there are some happy people in town when a mysterious car and driver arrive on the scene, start drag racing the gang, and the gang involved with Jamie's murder start having accidents.

I saw this movie years ago and didn't like it.  But recently my friends forced me to watch it again, ignoring my protests of hatred, and I actually thought it was okay.

The movie features Charlie Sheen before he was old and crazy.