hit a parked car and driver doesn’t want to go through insurance

hi! so yesterday i hit a parked car in the parking lot (no one was in the car). the driver of the car i hit does not want to go through insurance. we agreed for me to pay him 1250 next week (for a new bumper and tail light). when we meet up should i have us sign a form that says he can't ask me to pay more for the car later down the road and saying that i paid for all of the damages? what what i include on the form and how would i go about making it? thanks 🙂

edit: i don't know if this is relevant but we are both college students! this is my first time being in a situation like this so i have no idea what to do. he also said that it would be 350 for a new tail light, 500 for a bumper, and 400 for labor for a mercedes.

submitted by /u/pineapplejellybean
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