"Rubberized undercoating"
Have been using this stuff for years, after
etching, zinc phosphating or cold glavanizing...IMHO, works very well. 
I prepared the "insides" of a set of rocker
panels I picked up 15 years ago to be
installed on a Spridget long gone. Still
have the rocker panels today. They are
thus even "better" than when received "new"...one of these days I may
need them!!
"Rubberized" has also been used in the
wheel wells from time of "renewal" of the
metal. Remove the wheels once a year
to clean up the wells and hit it with a light
coat of Krylon gloss black.
Looks good and apparently..."takes a 
licking and keeps on ticking".
Cap'n. Bob 
     '60 :{)
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