Adding a renewed surface will extend the life of the existing pavement and improve the look.
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Water is the enemy of pavement. Because pavement is porous, water gets inside and with the freeze / thaw cycle we get every spring/fall, it will open up bigger cracks. If water penetrates through to the base, then heaving will take place, lifting up the pavement in spots, destroying what was otherwise a good paving job, and eventually a pothole will form. Or multiple cracks will form creating an unstable surface. Therefore it is important to seal coat your driveway pavement within 3 years of paving.
If your pavement is already old, looking dried out, the surface layer of tar has worn off and needs to be replaced, adding the renewed driving surface will extend the life of the existing pavement as long as possible, replacing what was there when it was new.
So your answer is to seal coat the surface, sealing up small holes and apertures and keeping water out. The Sealer is placed by hand or small specialized machines capable of working in smaller areas such as parking lots, driveways, pathways, etc. It dries in a matter of hours to a complete non-sticky finish, and smoother than the original new pavement and makes your paved surface look and feel like new!