See the latest thread on this issue here:
CA: AB 2461 Changing and Extending Amnesity
While many, from time to time, CLAIM their "kit" Cobra is legally registered 1965 vehicle the fact is this highly unlikely, as Calfornia will see it. It is virtually certain California will declare that 1965 out of state title to be improper or illegal in some way. DON'T fall for this common sincere, I swear it's true, it really is a legal 1965 car,,, mistake on the sellers part. Any car built after 1965-1966 is in fact a "kit", straight up. Including modern Shelby Cobra's noted on their factory paperwork as a 1965 MODEL, which is not the year of production. All modern Cobras, without exception are "kits", including Shelby, SPF and BDR. "Roller" is a term some manufacturers prefer to use to disassociate themselves from the term "kit". Call it whatever you want (walks and talks like a duck...), the fact remains, by Federal law, the vehicle is incomplete when it leaves the factory with no running gear installed and some assembly is required to finish the car. Thus the term "kit" is applicable to all Cobra's built after 1965-1966, in the eyes of the law.