Pay $5,000 in car accident damage or risk a lawsuit?

Pay $5,000 in car accident damage or risk a lawsuit? I was involved in an accident in which I think I was at fault because I changed into someone else's lane. I drive a 2016 Corolla and the other driver was in a 2023 Cadillac Escalade. His damage was far more expensive than mine with my damage being roughly $1,000 in repairs (right front fender needs replacing and front bumper needs partial repain...

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