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Make sure you understand the local registration details before you buy anything. In CA, I decided to build a kit and add my own 1965 289 to comply with CA emissions. Buying a used car and then finding it out that it doesn't comply with local registration laws does not exonerate you---in fact, you may end up with some liability on your hands.
The other bit of advice is to not buy the first Cobra you get the hots for. I got interested in Cobras before I could manage it financially, and the car I would have purchased three years ago is very different from what I finally decided to buy. There is a lot of nuances between the different manufacturers, so be a knowledgable buyer and do your research first. (hint: not all Cobra replica bodies are the same; and some are even exaggerated interpretations of the original car).
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Dangerous Doug
"You're kidding, right?"
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