Factual error: While Dirk and Reed are running from Rahad's house, and trying to get into Dirk's 'Vette, Rahad fires a shotgun at them. One shot hits the driver's window, which shatters, then a shot at the back of the car showers sparks. Corvettes are fiberglass-bodied, and wouldn't spark. After the sparks, there is no damage to the rear bumper cover, which if really hit with a shotgun blast would at least put some holes in the fiberglass.
Continuity mistake: When Dirk, and Reed are buying clothes, they walk up to the wall, and look at a pair of shoes. Reed is on Dirk's right. On the next shot, Reed is on his left.
Factual error: In the scene where Dirk Diggler and Reed Rothchild work in the recording studio to cut their record, Dirk sings a song called "The Touch." However this particular song did not actually come into being until 1985 when Stan Bush wrote and recorded it for use in "Transformers: The Movie."