I'm looking for the name of a movie that I think is from the 80's It is about two rival schools who have a street race to see which one will win a jukebox the one high school is driving a Yellow 57 chevy that is owed by the principal and stored under the football field. It may also be from the early 70's.

Could this be it - Catch Me If You Can (1989) (http://www.imdb.com/title/tt0097029/)

Catch Me If You Can (1989, not the 2002)

There are very few movies that feature a car hidden beneath a high school football field, and given how often this plot is asked about and this answer is given, I'm pretty sure that PolluxCastor was right.

I guess that's the last time I make a guess to try and help someone.

A reddie for trying to help. Man. That's as tough one.