Question about my 98 Cobra!

They are good motors, but everyone is right... the rods and pistons are the weak links. The crank in your car is bullet proof though.

Best thing would be longtubes, catless midpipe and catback of your choice. Longtubes are a pain in the butt to install on these cars, so if you don't want to go that route even a catless midpipe and mufflers/catback of your choice would help.

In reality though, those DOHC's NEED a steeper gear than what they have. Alot of people run 4.30's in their Cobra's, but 4.10 is a really popular choice aswell. Both will make a big difference.

I had 3.73s in my 96 Cobra and loved them. An O/R H or X pipe gives nice gains. 4V headers are expensive to buy and install for a very minimal gain. A tune will make a nice increase in power and having the cams degreed will also give a nice hp gain. Other then that there is not much else out there.

It really depends on what you'd like to do with it. If you want to drag race cheaply, a set of 4.30 gears and sticky tires are an easy way to low 13's (or high 12's.) A set of long tubes and mid-pipe should be worth a few more tenths. Weight reduction always helps too, but you probably don't want to gut your daily driver.

The DOHC engines love boost, but since it isn't in your budget, you may just want to set aside a little bit of cash each month as a blower fund. Being cash-strapped, the trial and error efforts that building a motor end up becoming is probably not what you're looking for.

Like BurningRubber said, I'd start with gears and exhaust. Definitely the best bang for the buck, with the smallest long-term impact on your wallet.

4.30s!!! Don't fear the gear!

4.10s or lower are great on the street.