WD40 is actually a horrible lubricant, one of it's primary functions when developed was as a degreaser, it's good at stripping away gunked up metal parts but it will dry up quick and leave little to no lubricant behind. You will find yourself constantly applying it if using as a lubricant.
You want to use a spray grease with PTFE in it , it has superior creeping ability, is dielectric so will not hinder any electrical parts, is safe on rubber/plastic seals, is also hydrophobic so naturally repels water to prevent corrosion.
I use the PTFE spray from SuperLube (although any brand will do)
http://www.sherline.com/images/7555pic.jpg
I use it all over my home, the 4runner and my motorcycle.
On the 4runner, I use it on all door locks and door hinges, rear gate lock mechanism, ignition coil boots, electrical connectors (primarily the ones for the running board lights and any other exposed to the elements). It's good stuff and doesn't not need to be applied very often, and there is no odor!
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2004 4Runner Limited V6 4WD ***SOLD***
385,000 Km
Titanium Metallic
Vehicles: '21 Highlander XSE V6 AWD | '21 Acura RDX SH-AWD Tech | '03 Honda CBR600F4i