Collins, 69, was driving his black Ford Explorer through Sherman Oaks when he crashed into a blue Toyota on Tuesday.
The collision caused Collins to lose control and careen into oncoming traffic, where he smashed into two cars parked on the other side of the street.
Sources tell Web site TMZ.com Collins attempted to leave the scene but was told by bystanders to stay.
He was booked into the Van Nuys Jail and was released just before midnight on $40,000 bail.
Collins was arrested in Mississippi in 2002 for DUI, but was found not guilty of the charges.
COPYRIGHT 2007 WORLD ENTERTAINMENT NEWS NETWORK LTD. All Global Rights Reserved.