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Whether you should resurface or replace your asphalt driveway heavily depends on its condition. If the foundation is solid and the damage is minor, resurfacing is your best bet because it’s more affordable and faster than replacing the driveway. But if your driveway has foundational problems and/or severe damage, like large, deep cracks and potholes, then it makes more sense to replace it. 

You should not attempt to install your own driveway. Whether working with asphalt or pavement, this is a complicated project that requires special equipment. Talk to some nearby asphalt or paving professionals and discuss your particular needs—it’s a good idea to get a few quotes and look at the company’s past work.

Driveways should be sloped with a minimum 2% slope—anything lower will cause precipitation and runoff to collect. A 2% slope is the equivalent of a 2-foot rise over 100 feet. One quick way to check the integrity of your driveway’s slope: no more than four inches of water should collect on the surface longer than 15 minutes after rain.

If your current driveway is full of potholes, cracks, and inconsistencies, it's best to remove your old driveway and start from scratch. That being said, concrete resurfacing and asphalt resurfacing are cost-effective options if the underlying structure is still strong enough to support your vehicle but just needs an extra layer to prolong its life.