Scott Hayward (Presley) rebels against the plans and expectations of his father, extremely rich oil tycoon Duster Hayward (Gregory). He drives to Florida in his red Corvette Stingray (concept car) to find himself. When Scott stops for gas and refreshments, he encounters Tom Wilson (Hutchins), who is on his way to take a job as a water skiing instructor at a Miami hotel. A chance remark by Tom gives Scott the idea to switch identities with Tom so he can find out how people react to him as an ordinary person rather than as a millionaire. Tom has fun staying at the same hotel and pretending he is rich.