Too Race OR NOT to Race a COBRA ?

Please be so kind as to cut a "newbie" a little slack . In short , I'm looking to do some amateur scca racing ( 2-3 times a year ). But would like to drive the car to car club events the rest of the time, so I'm limited to ( pre-smog rules in my state ) 1995 and OLDER . So my question is , ( since I'm going to UP GRADE : the engine and suspension to more race car then daily driver. As well as sub frame stiffeners and a 6 point roll bar ) is it worth the time & money to buy a "GT" OR "COBRA" as a base car ? AND .... should I be looking at particular year(s) ( fox ) mustang ? As much as I love the look of a vintage ( 64 1/2- 70 ) mustang , Cost and racing a 50yr. old car is a BIG , big concern. I keep reading their is a ton of after market support to fox bodied mustangs . And the starting base car for racing is still reason able .
If you can't recommend a given year mustang , ( PRE- 96" ) can you tell me year(s) NOT to consider . Some say , NOT to buy a GT or Cobra due to the fact that those models run a greater risk of having body / sub frame issues . Due to the fact that 20-30 yrs of rust AND there owners LEAD FOOTING them for years.
Have them not as solid as one would like to go racing with .
Any AND all advise is very much appreciated .

MFE92 said:

I honestly don't think Cobra vs GT matters too much. You're going to ditch the GT brakes anyway, and either use Cobra parts, or if you have the money/inclination, some of the newer brembo parts.

As for foxbody vs newer, if I were starting a new build, I wouldn't build a foxbody. I love mine and I slap the out of it on track, but that's only because I've replaced practically every suspension piece, and it now has SN95 track width, a torque arm and PHB, etc. There's a guy I sometimes run with locally and we run very similar times, and his 99 GT is very close to stock. He's a fantastic driver, but still...stick axle, stock K-member, stock engine...makes you think.

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I'm not a GREAT Fox Fan. It's just that ( till I read about your buds 99GT abilities ) they were looking sooo much cheaper to race . But , I'm sure to re-crunch the numbers . With an eye out for the ( time saving at the very least ) post 98" mustangs . And I like there looks a whole lot more. Could be an easy sell ( if the price is fair ) . Many thanks !!!