This could have possibly been dealt with and brushed under the carpet at the time of the event if it had been handled correctly.
INSURANCE would have been beneficial, but I doubt you can get it retrospectively, which in turns leaves taking it on the chin.
As you panicked and didn't handle things well you'll just have to chalk it down to experience, learn from it, and move on, but if he pursues it don't let him dictate the costs. Get your own quotes and try to arrange to pay the repairer rather than the 3rd party.
FWIW cosmetic paint repairs are not expensive and when done right are very effective. So if it's just a scratch/dent it can be repaired, even at his home/office to minimise inconvenience, and just from what you've said it won't need any new parts.
I don't know where you are and I haven't seen the damage but you'd be surprised what a
MATE of mine can repair for between £30 and £50.
PS: Decent grammer and punctuation generally help you get more responses IMO. FWIW I nearly gave up reading your OP and suspect others will too, just sayin'