It's New Year's Eve! Cory, Shawn, and Topanga have scheduled a night on the town; and Eric has a date with supermodel Rebecca Alexa. Everyone is excited unil Cory and company run into some unforeseen problems with their arranged transportation and Eric's car breaks down while driving to a party with his date.
Cory, Shawn, Topanga, Eric, and Rebecca end up back at home, trying to figure out a solution. While everyone is introducing themselves to Rebecca, Eric manages to get the last cab in Philadelphia. A nervous Cory sends the seedy driver away to the chagrin of everybody else. With no other option, the quintet has to take the subway. Eric thinks that things can't get any worse until Cory tells Rebecca that Eric just wants to be seen kissing her at midnight. Insulted, Rebecca quickly exits. Things get even worse when the subway train breaks down.
Stranded and date-less, Eric sulks around thinking about what a terrible New Year's Eve he is having. Meanwhile, Cory, Shawn, and Topanga decide to make the best of the situation and start their own party on the train.
Eventually, Cory apologizes to Eric for ruining his night but Eric realizes he doesn't need a date with a supermodel to have a good time.
Meanwhile, Mr. Feeny is forced to borrow money from Shawn for cab ride to the airport.