Derp

Since you asked for an opinion, here's mine.

Keep what you have. Use the $$ saved to learn how to fix the car that you already own and keep it on the road.

Why? Because in general you can expect that any Cobra out there has lead a "harder" life than most any other Mustang. This goes DOUBLE for any cheap Cobra. Further you can expect repairs to be more expensive than for a comparable GT.

This goes triple IF you are unable to perform your own repairs and have to pay a professional. Repairing/modifying old Mustangs quickly turns into a rich man's hobby when paying someone else to work on your car.

So unless you also have the $$ to afford the repairs making this swap isn't a good use of limited funds. It puts you down 1500 first thing.

Here's some information on a tool that will help you to keep any Ford product on the road.

ForScan ODB2 scanner w ELM327 USB
https://www.stangnet.com/mustang-forums/resources/forscan-odb2-scanner-w-elm327-usb.57/

Signed:

Ward Cleaver.

How deep are your pockets, the Cobra will cost more for just about everything. There was a very limited amount of Cobras made and finding the many unique parts if they break can be daunting(expensive and still used) ie throttle cable, coolant crossovers,Teksid Engine Block, etc etc. You can find some of the parts off the Lincoln's that used the same engine, but even those are rare. That being said there is a mystique around the Cobra and I sure loved mine.