Mr.Surfer,I honestly don't know what is Feasibility !! But I will say you The Pros and Cons and the Cost.
Pros-
Car will look Brand new after a Paint Job
Structural Strength MAY Improve
While Repainting,It also reveals hidden Rust Spots which CAN turn into Big Nightmare
Cons-
You won't know which company from,is that Paint
You won't know the Quality of the Paint (Maybe-Made in China
)-It will shine for a day or two and will start to peel off
Regular attention should be given to painting or you will find spots (Ofcourse-Unremovable) on the Surface
Cost-From Rs.7K to Rs.20K
Thank you