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Jay Leno tells the story of his Mercedes Gullwing

With all the new and varied machinery stopping by Jay Leno's Garage on a regular basis, it would be all too easy to forget that the former talk show host has one of the largest and most enviable private collections of automobiles in the world. Leno has hundreds of vehicles at his disposal, but the real value of it all is at least as much about quality as it is quantity. Take this gem, for example. Sure, it's a little worse for wear, but it's got a nice patina to it – and it's a work in progress. One look is all it takes to know exactly what it is: a classic Mercedes-Benz 300SL, complete with Gullwing doors. "The McLaren F1 of its day," Jay calls it, and with good reason. Watch the video above to hear the story of the Gullwing he rescued from the desert and is slowly bringing back to life. Related Video:

2016 Mercedes-Benz C350 Plug-In Hybrid on sale this fall

The Mercedes-Benz C350 Plug-In Hybrid can go from 0 to 60 miles per hour in less than six seconds and can travel 20 miles in all-electric range. As for the more practical issues related to the new PHEV, well, those details will have to wait a bit longer. The C350 Plug-In Hybrid makes its official debut at the Detroit Auto Show this week. The electrified Mercedes will start US sales this fall as a 2016 model. The sedan's four-cylinder, 1.9-liter, turbocharged gasoline engine will be paired with an electric motor that will deliver a combined 275 horsepower. The car will also have such goodies as regenerative braking and collision-avoidance systems, not to mention a top speed of 130 mph. We're still waiting for the car's estimated fuel economy, of course. Not to mention its sticker price. Spy shots of the C-Class PHEV started popping up in May, as well as reports that the Daimler division was testing prototypes in Germany. Meanwhile, this past summer, Mercedes-Benz started taking payments for the S500 Plug-In Hybrid, the German automaker's first production plug-in vehicle. That model, which started European deliveries last September, can zip from 0 to 60 in about five seconds. It also costs about $146,000.

This or That: Mercedes S-Class 350SD vs. 2003 Jaguar XJR [w/poll]

Budget. It's a wretched word, whether you're going out to eat, shipping for a new outfit or, more relevant to today's discussion, buying a car. Massive marketing machines have convinced us, as a population, to buy the best you can afford, repercussions be damned – If you've saved up some money, spend it! All of it, on whatever it is that currently sits atop your personal Amazon wishlist, be it a Timex that takes a lickin' and keeps on tickin', a $17,000 Gold Apple Watch or a $60,000 Rolex Cosmograph Daytona. But what if the best you can afford is... say, $12,815? For that price, you can buy a brand-new 2015 Nissan Versa (including destination), assuming you're happy with zero options and a manual transmission. For that price, you'll get standard air conditioning, a CD player and... well, a warranty. Pretty sensible choice, Captain Frugal. But also ridiculously uninspired. And so that brings us to today's edition of This or That, in which two Autoblog editors pick differing sides of an argument and duke it out to see which one of us can convince you, dear reader, is better. Or at least less wrong. You be the judge. As a refresher, I'm two-and-two on these challenges, having lost the first and second editions before storming back in rounds three and four. Today, as alluded to above, we decided to throw our collective brainpower (oh lord, what have we done?) at what may be the single most difficult question currently confounding the best minds our planet has to offer: What is the best used used luxury car you can buy for the price of a 2015 Nissan Versa? Shall we meet our contenders? Allow me to introduce you to the most perfect luxury car money can buy (assuming the amount of money you're holding is equal to the amount of the cheapest new car currently sold in America, the Nissan Versa). My pick is the 1991 Mercedes-Benz S-Class. Not just any S-Class, but the legendary W126, which was produced between 1979 and 1992. And not just any W126, either, but one powered by a 3.5-liter turbodiesel engine. And with that, I send the argument to my esteemed colleague, Associate Editor Chris Bruce. Bruce: Jeremy, we had over $12,000 to budget for this challenge, and the best you can manage is a 24-year-old diesel Mercedes? I love oil-burners as much as any other auto writer with their mountains of torque and huge cruising range, but you're making this too easy on me. Also, you're really choosing a brown, diesel, German luxury sedan?