Comp Orange is RARE with 281 coupes and 79 verts produced. It generally demands a higher price (much like Sonic Blue). The KEY KEY KEY KEY KEY issues here is you have to check the car over. If it was taken care of and if modified done right you should be ok.
read this Terminator FAQs
if its been modified dyno tune with A/F to make sure its safe, do a leak down test, inspect the plugs, listen for any head ticking (very obvious)
drive, it may have drive shaft clunk (they do mine does), see if the IRS feels wobbly (bushings rotting). Squeek on turning or not~
read that FAQ and get back with us, also run a CARFAX and AutoCheck as well as run a report at Ford if you can to get history.
Ask if they have receipts for work done~
22k for 35k comp orange isnt a bad price overall, I would be happy with that IF it is in good condition.
The paint on the front is known to have issues (chip easy) look over it. Look over the bolsters on the seats, they tear easy since people have NO CLUE how to SIT in a car without screwing it up.
Make sure they inflat/deflate (seat bladders) and HOLD AIR some go bad and leak
the stock clutch IS STIFF FYI just in case you wonder. Check for ticking noises idling sitting vs pushing the clutch in. Drive an check for clutch chatter.
Under boost it should only go about to 10psi (8psi stock) it should also NOT make a noise like marbles bouncing around in the intake (this is detonation and this is VERY bad as the cobras do not have knock sensors to ****** timing)
Ask them what gas they ran, should ONLY EVER run premium, ask if they ever ran mid grade.
alternators are known to go bad on those cars, see if it charges right have the sucker tested they are a PAIN to change.
Listen to the blower for any bearing noises or odd noises.
check how much blow by is in the intake (if any)
Look at the supercharger pulley (remove cage if it has it) see if its been removed before the stock is 3.65" in diam. some go with lightnings smaller 3.2 or so~
as said the most important is to make sure the engine is healthy *dyno a/f check and leakdown/compression test with inspection of plugs)