The main benefit of this product, or the similar 'plasti-coat' is that it is easy to apply and is temporary - ie you can just peel it off when you need to (if you have applied it right).
If you want something permanent then I suggest proper paint job.
I been playing with the flexidip again (similar to plastidip - its Rustoleum product from Builders) - for a change of looks I did my front and back bumpers, grill, mirrors and wheel arched in grey. Along with the black wheels it looks awesome!
As described before, its temporary and can be peeled off when you want to change back to original. It hides all the scratches and protects from new ones.
I did my rims almost a year ago, and they still look great!
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not quite finished on the right side yet
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When you do the wheels: do you first remove the wheel balancing weights and rebalance the wheels after the plasti dip is on the wheels? or do you plasti-dip over the weights?
My alloy rims had no balancing weights in the way - all were on the inside of the rim.
I am sure you can spray over then, or remove them but when refitting will probably damage the flexidip coating.