This 1951 M-47 Patton, equipped with an 810-horsepower Chrysler V12 twin turbo gas engine, is the very same tank Schwarzenegger drove when he served a compulsory year in the Austrian National Army in 1965. He paid $20,000 to ship it to the U.S. in 1991, he explains, but otherwise it was free.
Now he uses it to incentivize disadvantaged students to stay in school.
"I bring kids out here from the after-school programs," he tells Leno. "When they stay in school their reward is to come out here and drive tanks with me."
"And the ones who don't stay in school — you crush them?" Leno jokes.
This isn't the first time Schwarzenegger has managed to merge his passions for educating youth and heavy artillery. In 2014, he worked with the charity-organizing site Omaze to raise money for the After-School All-Stars program by offering a lucky raffle-winner the chance to "blow s--- up" with him.
Even Leno can't resist the appeal of destroying things alongside the Terminator. Together, they crush a limousine. Then, following an evil laugh from Schwarzenegger, they scan their surroundings for victims. Schwarzenegger suggests a run-down shed but Leno shakes his head, explaining that the NBC lawyer in the distance, dubbed Philo Killjoy, says they aren't allowed.
"What about the equipment over here?" Shwarzenegger asks, gesturing behind the camera toward the film crew. "We can run over that. It will be so much fun."
"No, the NBC lawyer says we can't do that either because it's some kind of insurance regulation," Leno says.
The two finally get their chance to have fun and rid themselves of Killjoy for good when the lawyer goes to use a portable toilet conveniently placed in front of the tank. Schwarzenegger hits the gas and they demolish it. "Hasta la vista, lawyer!" Leno exclaims.
Of course, as Leno promises in an aside to viewers, it's just a joke: "No lawyers were harmed in the making of this show. Only interns."
CNBC's "Jay Leno's Garage" airs Thursdays at 10 pm ET.