Young punk Otto gets fired from his dead-end job and is initiated as a "repo man" after a chance encounter with Bud, an automobile repossessor. An illicit, high-voltage life follows, including an adrenalized search for a mysterious '64 Chevy Malibu loaded with an otherworldly cargo.
As per Rotten Tomatoes: "Repo Man is many things: an alien-invasion film, a punk-rock musical, a send-up of consumerism. One thing it isn't is boring." I'm just gonna add that it's also a brilliant satire. As a B-movie it's in a league of its own..
I mean, I'm a bit cuckoo and think that every B-movie is a masterpiece in its own special way. ;) But, yeah, you're right, Repo Man is actually a genuine one. There are no rules that say that movies can't be both.
"A lot o' people don't realize what's really going on. They view life as a bunch o' unconnected incidents 'n things. They don't realize that there's this, like, lattice o' coincidence that lays on top o' everything."
Notice that there is nothing with a brand name on it in this movie. Everything is generic. Even down to when Otto is trying to get money from his parents while eating from a beef stew sized can of "Food."
In the late 70's Ralph's groceries introduced a store brand called plain wrap. The blue and white label had generic product name and horizontal bar. Some of the movies props were actual Plain Wrap, others were made for the movie. The Plain Wrap Beer was an actual product. Beer is also a Diuretic. Coincidence?
I first learned about when a trailer was shown at a screening of The Rocky Horror Picture Show. Needless to say, I was hooked. On Repo Man, not Rocky Horror.
Here's a fact I learned from the director's commentary that hasn't been mentioned: they couldn't settle on an ending until quite late in production, which is why multiple options are set up.