Durability

• Oil-based paint dries much harder than water-based latex and acrylic paint. This makes it more durable and allows it to endure considerably more abrasion. Oil-based paint is typically used on metallic surfaces that require a hard paint that won't scratch off.
  
  

Elasticity

• Water-based paint is far more elastic than oil-based paint. This makes it well suited for exterior surfaces which are subject to varying temperatures. Water-based paint is also good for flexible vinyl and fiberglass surfaces. If you apply oil-based paint to flexible material, cracking will ultimately result.
  
  

Tools

• When applying water- and -oil-based paints, it's critical that you select the correct tool. Synthetic polyester and nylon paintbrushes are appropriate for water-based paints. Natural-bristled paintbrushes are suited for oil-based finishes. Don't replace one for the other, or the tool will be ruined.
  
  

Dilution and Cleaning

• Because latex and acrylic paint have a water base, you should use plain water to dilute them. You should also use water to clean synthetic paintbrushes used to apply water-based paints. Oil-based paint, on the other hand, has a petroleum base. To thin this type of paint, choose mineral spirits solvent. Use this same solvent to wash natural-bristled paintbrushes used to apply oil-based paint.
  
  

Fumes

• Unlike oil-based paint which emits toxic fumes, water-based latex and acrylic paints are nontoxic. They also emit far less offensive odors and are much easier to wash from skin and clothing.
  
  

Compatibility

• Water-based paint is not compatible with oil-based paint. If you need to apply one over the top of another, you must first add a shellac primer. Shellac primers will bond with both oil- and water-based finishes. Don't skip this step, or peeling will result.