In the late 1960's when I was an apprentice garage mechanic, I remember asking to an 'old boy' about preventing cars rotting. (In those days, British cars used to almost melt away almost in front of your eyes! )
He asked me....."what do you think is the best liquid to prevent rust"?... Oil says I ? His reply surprised me......"No... young man, ......WATER! "
This was in the days before plastic wheel-arch trims, Waxoyl, etc and mud and road crap used to get thrown up and jammed into every crevice and crack.......and it stayed there, damp... for days / weeks.. causing body rot.
To this day, every time I wash my car, I start and finish by sticking the hose pipe under the wheel arches and along the bottom of the car and hosing away until it runs clear...job done.

. It's dry again within hours.
The waxoyl is just an extra layer of protection to the areas where you cant really get at....but then again, they usually remain clear of thrown up muck anyway. I just don't like to see rust anywhere on my cars, including nuts bolts suspension...anywhere.
I personally would never use a pressure washer on a car...it forces water into places that were never designed to resist.
I find about half a gallon of waxoyl is enough, by the time you've thinned it down a bit with WD 40 / diesel or similar. Then a compressor and oil gun type sprayer will do the job ....but it so fine it gets everywhere...hence my covering everything up to prevent overspray.
I repeat this procedure every couple of years......but I know I'm a bit odd....most off my family's cars end up on my lift for the same treatment.....rust is not a problem for any of us.