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I am on the 4th coat right now, and I am still not able to get full coverage, Is this normal?





Yes it takes 4 - 6 coats to get full color coverage, if you are thinning it enough. I wouldn't worry about that and keep going.

You will need to sand out the drips on the fenders, don't wait too long to address them or it will take a while to get them sanded smooth again.