DITCH IT
my trunk has been leaking since ive had the car, and its left a nasty odor in the car, so recently, i pulled the carpet up, which was drenched, and ford used some sort of really dense foam type insulation thats glued to the trunk floor
well, the foamy absorbed the water, causing the odor, not allowing the trunk to dry out, its been open for a few days when possible, no carpet, and its still holding water, so i decided to rip it all out
since my insulation has been waterlogged, it came up nice and easy, left my hands absolutely disgusting, but it came up and out, im waiting on the trunk to dry out more so i can finish wire brushing the rust, acetone the trunk floor to clean it and kill more rust, and lay down a bunch of coats of this laytex based spray paint, and see how it does
pics will follow
I don't remember my trunk being rusted when I dried it out (weather-stripping had a hole) but I should look into that. Would be horrible if there actually is rust in mine. Thanks for the reminder
not sure what you are going to cover metal in but that truck bed coating is very durable. Also you might look into a product called RED KOTE it is mad to reseal gas tanks so it is very durable also.