Jean-Marc Vallée's latest film Dallas Buyers Club has garnered Oscar buzz thanks to the brilliant performances and transformations by the film's lead stars Jared Leto and Matthew McConaughey.

Leto spoke to EnStars about his drastic weight loss for the movie, working with McConaughey and his use of method acting to get into character.

The fact-based drama, set in 1985 Dallas, Texas, follows the timeline of Ron Woodroof (McConaughey), who starts an HIV medicine-peddling business after he discovers he has the disease.

The hard-partying Woodroof learns of his infection while he's hospitalized after a construction job accident. There, he befriends Rayon (Leto), an HIV-positive transsexual. After Woodroof isn't offered treatment in America and scores healthier alternative medicine in Mexico that is not approved by the FDA, he solicits help from Rayon to start a Dallas Buyers Club in order to sell the medicine to HIV patients in their hometown.

In the film, Leto brilliantly portrays Rayon, a role which the actor described as "beautiful" and an "amazing opportunity." The 41-year-old took the part following a five-year hiatus from acting to focus on touring with his rock band 30 Seconds To Mars.

"I've never been in a hurry to make the most films," Leto said at a recent New York City screening in regards to his Hollywood break. "I've always wanted to make the most interesting [films]."

He compared his break from acting to that of two-time Oscar winner Daniel Day-Lewis. The Gangs of New York actor once chose to appear in only four films in ten years and recently announced a five-year hiatus after his 2013 Oscar win to go farming. The Lincoln actor said in interviews that the breaks in-between films help him to delve further into the roles he accepts.

Like Lewis, Leto took method acting to the extreme to prepare for the role of Rayon and stayed in character even when he wasn't on set. He said he knew portraying a transsexual accurately would be very challenging and was committed to giving it "every single thing [he] had." He lost over 30 lbs in three weeks and stayed in character during the 25-day film shoot.

"I had three weeks to get ready. The first thing I did was stop eating; literally," he said. "I started fasting which I'd done before for a film called Requiem For a Dream...and I gained 67 lbs for a film Chapter 27."

Leto also discussed the extensive research he had done to prepare for the character's mental process and noted the importance of capturing the character's emotions.

He recalled the moment he knew he fulfilled the role of Rayon. After he finished filming an emotional scene, director Vallée came over to him, took off his headphones and as tears streamed down his face told him, "you did it, you did it."

Leto also confessed that the opportunity to work alongside McConaughey was one of the main reasons he took the job. He figured that since the Magic Mike star signed on and began his drastic weight loss months in advance, the project must be worth it.

"Matthew was great; he was incredibly focused and committed. He had been losing weight a few months. He had really put himself on the line for this," Leto said. "I thought 'that's good thing to think about, our fellow actors, they could teach us things' they could be a scout for you. He was a scout for me... I thought 'hey, I want to get in the ring with that guy.'"

Dallas Buyers Club also stars Jennifer Garner (Alias, Juno, Valentine's Day), Steve Zahn (Diary of a Wimpy Kid, Joy Ride, Monk) and Griffin Dunne (House of Lies, Damages, Law & Order).

The film arrives in select theaters nationwide on Nov 1. View theater listings at the official website here.

Watch Leto in a scene with Garner below.

Watch the new official trailer here

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