I bought the touch up paint from my dealer for 20$. It comes with a bottle of paint and a bottle of clear. My salesman, another salesman/friend, and the parts guy all recommended I use a broken in half tooth pick to apply the paint instead of the supplied brush because the brush holds too much paint and will just create globs of excess paint. I added the paint using the toothpick method then waited an hour (directions say 30 minutes) before adding a coat of clear the same way. Results aren't perfect obviously, but better than having no paint.
Before (Parking lot rash from another driver)
During (1 coat of paint, I added another coat before adding clear to match the depth, looks better now but I don't have a picture and my car is currently dirty)
I also followed up with a hand polish and reduced the minor scratches around the paint.
On my hood, stone chip... Before:
After (Paint was still wet, color is even more matched now):
you just need to be careful not to add too much paint or you will have unsightly globs that look worse than the chip itself.