Frame Paint is more likely to cause rust than to prevent it, even when applied at the factory. Rubberized undercoating is much better for all underbody parts because it's cheaper, easier to apply, requires less prep to apply, and is easier to re-apply as needed.

This is my '83/93 Bronco:
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This is the '93 EB Bronco I'm building:
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Owner caption March 2021 · Photo 0 of 5000