the loyale i just bought has pretty bad rust in the back section of the rear wheel arches. would it be possible to buy a pair of front fenders, and cut out sections of the wheel well to rivet into the rear wheel wells? or would i be better off just adding metal in and covering it with flexy flairs or something?

Mill's Supply in Cleveland, carries an a rear arch panel that'll solve your problems.

http://www.millsupply.com

They cover the complete arch - and have enough extra metal if you need to expand your repair to the rear quarters. They are the correct guage metal, and fit very nicely.

Definitely worth the cost IMO.

Good Luck, John