Best bet would be sand it back to the metal, beat the rusted are inward a little, ask your local paint supplier for a rust killer, then a thin slither of non fibre glass filler sand it back (the finish is in the prep work and the more time you spend the better the results) dust it with primer, sand back and then spray it miny airbrushes are quite good as the colour matching is less noticeable to the eye, and then heres the best nit get shot of it fast! its only a Nova Im sure there will be a young lad who has some surplus blue bonnet lights that will want it!
Harsh but fair me thinks and then use the cash and put it towards a polo if you need to have another car.
Just remember dont spend too much on the repairs as it is an old car and people should expect it not to be perfect!
Or you could do as i have seen, either paint on with a brush some hammerite (in black so it looks like a wheel arche extension) or the pikey way just put some duck tape over it and forget it was ever there!
Only jesting with you mate good luck with the repair if you want to get hold of a cheap airbrush got machine mart they got one for about a tenner.
