Re: Our most annoying enemy... Rust.
I'm not sure he's even driving it. Are you talking silicone lube or caulk? All silicone is a no-no when paint is concerned and it doesn't matter how old it is. It doesn't dissolve or break down. If you are talking caulk there are better alternatives. I use a tri-polymer urethane caulk that does anything silicone claims better, it is paintable, and cost about the same . Google Geocel 2300.
But the OP didn't say anything about sealing it up, he wants to stabilize the rust. All silicone lube does is repel water for a little while, not chemically change iron oxide. I'm not trying to be contrary, just give good advise. But I do beg to differ on your "the only way" remark. Heck, mix linseed oil and mineral spirits and brush it on to seal it up.
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Tim
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