rust on body

Hi everyone,

guess I should introduce myself first.. I'm about to own a '92 black svx, ls-l... buying it in a week or two. it's been around the block a couple of times (183k miles!), but the owner seems to have taken pretty good care of it.

there are two rust spots though, where the rear fender meets the body panel... at the joint right below the fuel door on the right side, and the same on the left side too. the owner's put a rust inhibitor on one of the spots, but both of them look pretty ugleee...

anyone have suggestions as to how I can fix the rust problem? i just want to make sure it doesn't spread or get any worse, and it would be nice to make it less obvious and more aesthetically appealing. but i'm not going to invest a whole lot of money in it.. the car's not even worth that much anymore! so 50 bucks tops... any ideas?

Thanks!