Bigglesworth---my armchair advice is to NOT purchase that car. There are plenty of Cobras for sale and I would be concerned that there are other unnoticed issues with the particular car you are looking at---just from what I've seen.
Think about if you had a blow-out at highway speeds: The tire goes flat and suddenly you have NO steering because you are sliding on a couple of metal chunks under your Cobra---one being the
oil pan that is slowly being ground open as it slides across the pavement with flying sparks and red-hot metal flying everywhere and then comes the
oil...and then the flames, first under the car and then up into the cockpit as the fiberglass lights up. Then you realize you're taking somebody for their first Cobra ride. Then you hit a tree, because you still can't steer.
Dude, if you're going to buy a Cobra take your time. Talk to some local Cobra owners and check out different kinds of kits: ERA, Kirkham, Superformance, Factory Five, and so on. Check your budget, and shop around. Don't buy the first one you check out.
I had the good fortune of saving for four years to buy my Cobra. Studied, thought, and checked out everything. Very happy with my ERA.
Good luck, and say "Hi" to Dr. Evil for me.
DD