Car covers - different type of question

I read a lot of the posts about buying car covers, costs, and protection, but I have a question I don't think was answered yet. What can I expect to physically happen to a car (the '69 Ford specifically) sitting outside while under a decent car cover? By that, I mean rusting, molding, etc.

I may have to put the A&H in long term outside storage under a cover, and I'm looking to by a heavy-duty weatherproof but very breathable cover. I'm concerned about what sitting in the varying temperatures and humidity will do to it. I'm not too concerned with our winters, but in the Georgia summer, we see 90 degree days with 95%+ humidity. And while a cover can keep the rain and contaminants off of it, will keeping it covered be like slow cooking it in a sauna?
 
in all the time I have had the 86 H&E it has sat out side under a California car cover. I had space to put it in one winter. the big advantage I see is stopping the green house effect inside the car. you don't get that build up of temp in the interior and the cooling off at night that build up the moisture. if it's 98 in the summer, peal of the cover and jump in. the interior is no warmer then under a shade tree. now me, I also leave on window cracked to let the interior breath but so far there are no Ill effects from this method of storage.
 
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