If it is a everyday driver then coat it good,I don’t drive the 54 in the winter and what I drive is rusting out ,I have tried all kinds of home brews but use fluid film ,the cosmoline sounds interesting but I have found the rubberized or hard coatings hold in the moisture and make it worse ,some stuff is not great for rubber but if it is oily it will creep and that is what you want .I don’t know about old motor oil as does it not have detergent in it ,you don’t want clean metal or it will rust quick .Maybe a mix but having a coating is good to have but for storing a good cleaning and a light film of your favourite stuff that can be cleaned off without to much effort is good in my area.
