Well, IMHO if you want to patch it, use a $5 “Muffler and Tail Pipe Repair Kit” and do it yourself.

Your picture looks like your on borrowed time, so I would make plans to get a new exhaust soon. I would personally look into a local shop; usually they can do it better and cheaper. But you always have to compare apples to apples. If Monroe is asking $700 out the door for a performance SS exhaust, that ain’t bad in my book. An SLP Performance Exhaust un-installed runs $550 for our cars, just for comparison. Good luck.