Saint Paul, MN
In my experience, annual oil/lanolin undercoating is our best defense here in the rust belt to extend life and maintain more value for our vehicles. Lanolin coatings like Woolwax won't dry out, will self-heal over small scratches, and are easy to continually maintain without the work and expense of paint prep. Rubberized or other paint-type coatings are more costly in prep and application, and are more prone to trap existing rust, hold moisture, and make frame rust worse.
The undercarriage photos here show a 2008 rust belt vehicle that has seen winters, salt, off-road, mud, water, and sand conditions - started annual Woolwax coating in 2016.
WoolWax Undercoat Service:
Drop off your vehicle for the day (business hours, weekdays) - if helpful, you can drop off the night before your appointment or arrange for pickup after business hours
I'll remove light loose rust, coat the underbody/frame, and inside the body/frame where there are access holes
20% discount for annual re-applications (usually little or no rust removal prep is needed after first time, and less time and material needed for re-coating)
Enhanced service also available on request if you'd like to go deeper into removing parts or drilling additional access holes to get inside door panels, cab corners, fenders, etc.
Effectiveness of lanolin coatings:
Some notes on undercoating a vehicle with existing rust - why rust occurs, how to prevent it, how rubber/paint fails, how oil/lanolin works
Some time-span video reviews: Lanolin coating after 3 years, 4-year comparison test, Lanolin undercoating 5-year review
Project Farm's: Best Car Undercoating Testing & Review (Woolwax is a heavier-duty version of Fluid Film - made by same company)
About Woolwax/Fluid Film lanolin coatings:
Organic, all-natural, non-toxic substance derived from raw sheep wool grease
Does not dry, migrates into cracks, resistant to wash-off
Originally developed and tested for US Navy vessels in the 1940s
Used by US military, Coast Guard, NASA, and many other aerospace, industrial, and municipal entities