You have a much better control of your temper than me mate. It certainly makes sense to go about it the legal way, but the guy is pushing his luck.
If you do end up in court you might find there are expenses you can claim in your complaint above the cost of the repairs alone. Hire cars, towing fees, storage fees etc etc. Make sure you claim all that is owed to you. The legal process is long and drawn out, so you need to get every penny that you can considering the amount of time you'll spend chasing him.