My '89 came with black undercoating in the fender wells and I just finished cleaning them up and re-undercoating.
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Wurth
 

Wurth high build undercoat (black). Not necessarily the correct color for your year, but my preference. Turns out nice.


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Body colour in the same quality as the rest of the car with attention to a factory "wax" type coating. In Canada, when I see "black" undercoating it's like they're trying to hide major imperfections,overspray, rust etc., as well as not wanting to spend the needed money to "finish" the paint job or hide the fact it had a colour change. Some say the black looks better because it doesn't show all the dirt? You might as well spray some on the rest of the car to hide dirt?? I find keeping the (properly painted and coateded) body coloured wheel wells clean very easy because dirt doesn't stick to it like black undercoating. Just my opinion.