Source:- The news classads, 12 oct 2008
Waxing a car might provide temporary protection against paint oxidation and degradation from the ultraviolet portion of sunlight, but only if UV blockers are in the wax. A thick, hard wax also offers slight protection against rust from moisture accumulating in pinholes in the paint surface.
Waxing could damage a car's chrome components if the wax is applied but not removed when dry by polishing.
One of the benifits of waxing your car is cleaning it. You will find that regular wear and tear (daily use) will cause the finish of your car to be slightly abraded. Though these scratches may not be very visible to the naked eye, they are there. These tiny abrasions cause the surface of your car to be less slick, and thereby causing dust and dirt to accumulate more readily. You should wax your car twice the first time you do it. The first coat of wax fills these minute scratches and begins to develop some buildup. The second coat helps to add a layer of a wax over the finish that will hold up longer than just one coat. You will find the second coat goes on faster than the first, because the surface is already slick.
When you wash your car, you'll see how much easier to dry off.