A man wrongly imprisoned for murder (John Ireland) breaks out of jail. He wants to clear his name, but with the police pursuing him, he's forced to take a beautiful young woman, driving a fast sports car, hostage and slip into a cross-border sports car race to try to make it to Mexico before the police get him.

The Fast And The Furious is in the public domain, and can be downloaded here for free:
http://www.archive.org/details/TheFastandtheFuriousJohnIreland1954goofyrip