My 96 was this way when I bought it. I used the blue bottle McGuires 3 step wax on a high speed buffer. I spent like 8 hours on it but it was well worth it. I did 3 coats of all 3 types of wax. First wax removes oxidation, second one polishes and last one protects. A lot of people thought I had fresh paint with metalic flake because what was let of the oxidation gave it that look. It unbelievable how good it came out.
The color is in the gel coat which is why it fades so bad.