In a word,YES! Except you did not mention which one or kind. I just posted a day or two ago about a product call Waxoyl I think under my post on "Nagging ?". I also have some spray cans of cosmoline (look online) One drawback, it has an odor for awhile. I would not use anything like the black undercoat or heavy caked on type stuff as moisture can get trapped between the undercoat and panel causing what you are trying to prevent. The products I mention are clear or opaque, thin and adhere well and can be done by a DIY some are in spray aerosol with long tube with a head that sprays out 3 ways to do things like frame rails and tight, unseen places. Prevention is worth a pound of rust,as they say.