I've had my vehicles hot oil undercoated for several years now and it has either stopped or retarded most of the rust formation on the undercarriage & body. (I'm in Upstate, NY...plenty of snow and salt.)
Something like Fluid Film or applying grease to potential problem areas should also work similarly.
The only way to successfully eliminate rot, to my knowledge is to remove and replace the problem section of metal. Surface rust should be a bit more forgiving if adequately sanded and sealed.
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