Latex vs oil exterior stain
(didn't read that right :D)
There's another thread on this, but I think the latex "solid color stain" is much like paint, in that most of it stays on the surface.
Can't give a recomendation other than use a good product if you go that route.
I did paint my garage last year with a latex stain, but it's a verticle surface, about 40 years old, and had an extremely rough, porous, surface to hold the material. There wasn't any way of completly stripping it first, and I didn't see any oil products on the selves. Hope it lasts.
The "stain" went on like "paint".