My brain aches when I mention this subject at work, and I'll probably get the same conflicting advice in here, but at least it will be intelligent/informative and from guys who know what they are talking about!
I bought my 'pocket rocket' just over a year ago (1996 Mini Mayfair) from a lady who used it as a shopper (hence there being only 8000 miles on the clock) and garaged it over-night. The day after purchase, I took it to my local garage. "take it apart and put it together again, you find anything wrong you tell me". Mechanically in perfect condition. Nothing wrong with the vehicle, whose a lucky boy! Underneath. A rust spot 'here and there' otherwise sound everywhere. I asked them to put it back on the lift so that I could see for myself. And they were right. I wash and wax the car most every weekend, then get on my knees and fire the hose all over it's bum. I don't have a garage so my baby is exposed to the weather, and it doesn't seem to mind.Though I do cover it if frost is forecast. Underseal it myself on the hard-standing. Or pay to have it done. Or do nothing.
jonathan