Very good advice from everybody. Looking at the pic. the rust is on the bottom edge where it is silver and not color. That is not paint, the silver is the grind marks left by the sander, then clear over the bare metal. The instructions with the m/c say to patch any rock chips, scratches immediately with clear so it won't rust. Go to your dealer, have them order a new fender which could take 2-3 months, but you will have the bike to ride while you wait. As was said above, don't wait, you don't want them saying it was something you did. I have seen this before and chances are it will get worse. Good luck...if they give you a run around, post it on this thread, we can help you get it done.