Well, I'll take a different tack because I understand where the OP is coming from. You drop a bundle of money on one of these things and even though it is incredibly useful, for most of us it is still a luxury. And like a pick-up truck or a jeep, we might even take a little pride in it and want it to stay looking nice. Or like me, you know it is a luxury and that if times get tight it will be one of the first things to go so you want to keep resale value high. For the type of person who is going to buy one of these little tractors, paint and looks are important for the same reasons I described above but also as an indication of how well the machine was cared for. Paint that looks good = cash. Who doesn't like cash?
In any case, I'd also think foam pipe insulation would help, or even strategically placed foam tape at contact points. I don't fold mine down but it is already showing paint loss in places with a little rust. I just touch it up with Kubota Gray spray paint. Expensive but it should last a few years at this rate.
