Passing the mission will earn you respect and $5000. Drive over to it avoiding trouble, and park in the red marker when you get there. When this happens, a yellow blip will appear on the mini-map.
The Scare Meter will fill up, and once it's all the way full, he will begin to gab. Try to get on long stretches of road (taking a left from the starting point is a good way to do this) and always drive on the wrong side of the street.
