Rare and Stunning 1962 Oldsmobile Jetfire Driven by Jay Leno Pops Up for Sale

The vehicle is being sold by Eric Jensen, a long-time Oldsmobile enthusiast. Eric bought the car in 2015, essentially rescuing it after over four decades in storage. The Jetfire had been parked in 1974 and was found with flat tires and covered in a thick layer of dust in a Chicago garage.

The vehicle had only 44,000 miles (70,811 km) on the odometer and no rust issues, but Mr. Jensen opted to do a full restoration. He started the refresh in 2019 and completed it in May 2021, only a few months before Jay Leno showcased the Jetfire on this popular YouTube series. It has since won a few awards and was featured in a few magazines, including Hot Rod.

Both the seller's photos and Jay Leno's video show a Jetfire in pristine condition. The Royal Mist paint is both stunning and accurate, and I could say the same about the silver interior. I know matching interiors are usually what classic car enthusiasts want, but nothing beats a silver-trimmed cabin in my book (regardless of the exterior color).

Pretty much a Concours-ready car inside and out, this Oldsmobile looks just as fabulous under the hood. The engine bay is impressively clean, while the Turbo Rocket is as factory correct as they get. And if you know your Oldsmobiles, you already know that this powerplant is a rare sight.

The Jetfire debuted in 1962, and unlike the Cutlass hardtop it was based on, it featured a turbocharged version of the Buick-designed, all-aluminum 215-cubic-inch (3.5-liter) V8 engine. At the time of its introduction, it was the first American production cars to feature turbocharging.

Although Chevrolet also introduced a turbocharged Corvair for the 1962 model year, the Jetfire was released a couple of weeks earlier. And while that claim may still be disputed, the Jeftire was indeed America's first turbocharged V8 automobile.

Topped by a Garrett-developed turbo, a custom carburetor, and boasting a 10.25:1 compression ratio, the Turbo Rocket engine delivered 215 horsepower and 300 pound-feet (410 Nm) of torque. It was a 40% output increase compared to the naturally aspirated unit, and Oldsmobile claimed the extra oomph did not alter fuel consumption. 

But like most pioneering automobiles, the Jetfire had some issues that led to its early demise. The suspension was too wobbly, and the braking system was too weak for the extra performance. Additionally, it required a distilled water and methanol injection system to cool the intake charge.

The mixture would last for fewer than 300 miles if the cars were driven hard, and many owners refilled the reservoir with plain tap water, damaging the system. Oldsmobile sold only 9,607 units in 1962 and 1963 and promptly discontinued the Jetfire due to low demand. America would not get another turbocharged V8 production car until 1980.

The Jetfire you see here is one of only 3,765 examples produced in 1962, but the four-speed manual transmission narrows it to one of just 203 units made. According to the seller, it's one of only three known to still be on the road today. The odometer now reads 46,000 miles (74,030 km), meaning it was driven only 2,000 miles (3,219 km) over the last decade.

The seller is asking $80,000 to part ways with the car, which is the highest Jetfire sticker I've seen so far. The most expensive Jetfire I know of is a 1963 manual example that sold for $50,000 in 2017. Some 1962 cars sold for a lot less, but that was many years ago, and they all had automatic transmissions. Is this Jetfire worth the asking price?