I don't use "wax" wax has a problem with blocking certain things from getting to your paint i.e. oxygen... now I know, oxygen can mean bad right? Oxidation, however depriving your paint of too much oxygen will result in fading. Therefore I use polish like Turtle Wax ICE or a hand glaze, 3M makes a hand glaze that makes my brilliant black look brand new every time I use it. Those are my opinions... some probably won't agree with my view on wax, and if not, than just don't take my advice.

 

i honestly doubt that a carnauba wax will deprive the paint of oxygen.

if so it'd have to be made of 100% carnauba, and there's just no such thing.

waxes protect from UV rays (i.e. which causes fading), heat, moisture, oxidation, and contamination.

 

Oxidation is caused by, in part, oxygen reacting with the paint (as well as UV sun rays, temperature and other things). Therefore, reducing oxygen going to the paint is an essential part of preventing oxidation.

Meguiar's FAQ, How can I prevent oxidation?