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no its t-cut, it removes some of the paint and should only be used on scrathes etc that cant be removed by just normal polishing! As your application, apply like wax, wait for it to go off - about 30secs, goes a whitish colour - and then buff off.
Its a VERY abbrasive polish, perosnally onbly ever used it on scrathes etc. Decent polish would normally restore paintwork. Though tbf if it was only a £100 and you have some, then just go for it.
personally i'd either put your hand in your pocket to the tune of about £7 for something decent or leave it. you'll more than likely make it look a mess if you go at it with t cut.
on a 1990, why not get one of the lads to pop round n pc it for ya? or take it to a bodyshop and get it mopped. even a good valet and polish on old cars can double their value and get them sold so much faster
As others have said its fairly abbrassive and is a bind to remove after, if you working by hand £6 quid and a tube of Megs Scratch x is a better option.
To buy a PC, pads, polish and transformer is around £150