Many guys have built the Factory Five Cobras for under $25k,and have done it well.They have an excellent kit for around $12k,that uses a Mustang(1987-1993)5.0/T5,and about all you need is paint and a few details to finish it.I hope to do one of these with my Daughter in the near future,maybe a spec racer.There are many fine examples of FFR Cobras in the gallery section of this site.Also check out
www.ffcobra.com for more details on the build experiences of owners .Good luck,and welcome to Club Cobra!
Gary
PS.Sometimes Factory Five runs specials as well-it may help defer some of the shipping costs.