At a used car lot, Mr. Magoo is intent on buying a car for his nephew Waldo. He is slick talked into buying an old clunker thanks to a shifty salesman but he drives it off anyway. Unfortunately, the myopic Magoo drives off a pier and under the ocean where he mistakes the various aquatic surroundings such as fish, sunken boats, and seals for other cars, dilapidated mansions, and a horn happy driver respectively.

ChuckJones团队1965-1972年间基于Hanna–Barbera在1940-1957年制作的114部影院版动画短片重新打包编辑的电视版《猫和老鼠》，并制作了新片头。其中还混有MGM出品的其他影院版动画短片如Droopy系列。这一电视版曾于1990年代初在中央电视台播出过。