Some folks herein have suggested using silicone for sealing hardware in or near painted steel. Many silicone sealants essentially promote rust in painted steel. I found this out the hard way on my Tundra. The problem: some silicone caulks and sealers release acetic acid during curing, which can react with certain metals and cause a galvanic reaction to the sealer, or trap moisture under the sealer.
I suggest using other products besides silicone for sealing surfaces in contact with or near painted steel. I mostly use polyethylene sealers for these situations.
For sealing roof rack hardware holes in the body on my 80 and my trailer I have used:
Permathane -- a polyethylene sealer; it may be hard to find. I got it at Dixieline. Can be messy.
Loctite 565 -- is rated to specifically seal threads in hardware; I have used it on all my roof rack hardware threads.
forum.ih8mud.com
Tons of info here:
All Metals Fabrication has spent years developing core competencies in all types of metals including galvanic caulk. Galvanic reaction to caulk is dependent upon the type of metal used.
www.allmetalsfab.com
Silicone sealants and rust
forum.w116.org
According to Silicones: Chemistry and Corrosion, “Single part silicone sealers generally contain a cross-linking catalyst (such as a tin compound) that is activated upon exposure to moisture in the air.” When acetic acid is released, it attacks and corrodes metals such as copper, zinc, brass...
everythingwhat.com
Waterproof sealant for metal – the DIYer’s choice for sealing metal surfaces. It protects against moisture and leaking even in harsh conditions.
www.loctiteproducts.com
A metal sealant can help protect metal products and surfaces.
www.doityourself.com
Cheers,
Jon