I used tetroseal on the external chassis, sills and underneath .. 'cos I had a huge tin of it in the shed .. ;)

I have also used hammerite on bumpers and 'stuff' but for a chassis I'd go to Waxoyl, definitely Waxoyl if you also plan on injecting it into the rails .. which is how they rot anyway, so really needs doing. Gonna do mine next year .. I think .. ;)
 
I did contemplate hammerite on the chassis then Waxoyl on everything but was dubious about preventing the Waxoyl from having direct contact with the metal & doing its wonderful work. Plus I wouldn't be able to paint top of chassis. I did the hammerite & Waxoyl thing on my first disco in 1997 ish & was confidant with it. I have a 1995/6 p38 as well as disco, the chassis on that is ad good as the day it left the factory, for 13 years I have never got around to Waxoyling it & its fine. I got the disco last year but never got around to looking at it properly until it was tested a month ago. Whilst I was underneath it I realised how poor it was compared to the p38 With the whole surface pitted with a bit of sharing in places. Its still solid but I would like to keep it that way ha ha
 
Hammerite on the outside then waxoyl inside and out can't go wrong, but remember you can't turn rust back into metal
 
Ha ha, at the moment it's more cosmetic than structural. We went over it while over the pit for it's mot & it was sound, so I just want to prevent the tin worm from getting hold of it properly.
 

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