My0gr81

http://www.carbuzz.com/news/2012/4/1...heikh-7708127/

bagwell

from April 1st 2012

pbm317

Seeing as this article is dated from April of last year, and we have still yet to hear anything to confirm this, I would say it's false.

My0gr81

Hmmm! tbh, I didn't check the date on the article. It was a link on a current story I was reading on another news site, so I assumed it to be current also. I'll update the original post.

mmarshall

I heard Letterman was interested in some of them.

(Just kidding)

BNR34

iTrader: (1)

Leno never sells anything, he said it himself: "I never sell anything, that's why he got so much stuff". He lives very frugal for how much he makes.

Every car he bought was bought at the best possible deal after it is depreciated to their lowest value, he never buy the latest and greatest and all his cars are the regular version that worth much less then their respective much rarer special edition. The few recent new cars he acquired (Jaguar XJ, Mclaren 12C), I am sure the maunfacturer either gave it to him for free or at a smoking deal because he is a celebrity that helps them promote.

I predict his car collection will turn into a museum like the petersen museum after he died. No one can ever buys them.

mmarshall

True, his late-night TV show brings home the bacon, but it's got to cost a tidy sum to keep all of those cars, especially in high-tax/high-priced California. They have to be registered every year with high CA fees, gassed-up as they are driven (with expensive CA-grade fuel), all of the insurance-bills paid, property/car-taxes (if applicable) paid, servicing and repairs done as needed, periodic detailing (he probably pays to have that done), and all of the other daily auto-related expenses (tolls, inspections, etc.....) He probably spends more each year just maintaining those cars that most of us here on CAR CHAT make in total income.

BNR34

iTrader: (1)

All his cars are bought used, so sales taxes are very low, if anything. Registation is very low on old cars that the DMV have no clue of their value. Gas is nothing as he can only drive one at a time. Insurance is nothing as he just got an umbrella policy that covers everything he got in a secure storage location, insurance rate is based on how much he drives the cars, again he can only drive one at a time, so 100 miles per year on each car. Or he doesn't buy insurance at all, his cash can cover himself. He got a team of mechanics and helper to maintain and clean his cars, not like he get rape at the stealer. He is a very knowledgeable car guy, so he is not buying $100 a quart oil in a Bugatti's bottle, he pay $1 a quart buying the same oil in bulk from Valvoline.

His expenses are pretty low compare to his income.

mmarshall

You may (?) have a point about his income not needing insurance, but he still has to pay the people who service/maintain and detail his cars. True, gas, can only be used in one car at a time, but can't sit for too long in the tank without deteriorating. As far as putting ordinary OTC auto-parts-store oil in a Bugatti Veyron designed to go 250 MPH, that may or may not work...depending on how he drives it. That quad-turbo V16 creates enormous amounts of heat, though I doubt if he has ever personally taken it to its limits or maxed it out. TOP GEAR's Jeremy Clarkson did it once in a Veyron....but under different circumstances.

BNR34

iTrader: (1)

He employed like 5 guys at say $60k each. So $300k a year in salary, a lot of it could be tax deductible too for his show Jay Leno's garage.

Leno pulls in $20 millions a year.

If you are smart and know the necessary oil that each car required and buys it directly from the manufacturer, is way cheaper

xioix

He also gets cars from people looking to sell their cars to him at a low price because they know he will take care of it and not look to make a quick buck with it.

He has all that Tonight Show money building interest to keep his cars maintained and looked for forever. As he has not spent any of this Tonight Show money and only spends the money he earns doing stand up.

BNR34

iTrader: (1)

A lot of cars he got are really cool cars that are in bad shape and he fix them up in his shop at the lowest possible cost.

Like the old red gullwing he got, it is rusted with peeling paint and either missing the engine or the engine was blown, it wasn't running. He probably pay $200k for the car, towed it back and fix it himself. Instead of buying a mint fully restored one for $750k.

That's his personality too, is like rescuing dogs from the pound instead of buying a purebred.

I8ABMR

there is no way in hell. Short and sweet !!