Like he said, in the end, it was an at fault accident. He could’ve screwed you over by reporting this but he didn’t. I’ve been in the same situation before…actually from both sides, and I can tell you, I didn’t mind handing over the cash when it was my fault, and likewise I got cash handed to me when it was the other guy’s fault.
Just learn from it…pay more attention at the wheel, as we all know by now…the smallest little accident can always be blown way out of proportion. It’s better to nip it while it’s still small and be done with it.