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The average price to haul away an old asphalt driveway and replace it with a new one is around $5,000, based on several factors. âTypical life expectancy of an asphalt driveway is 15 years,â says Ron Reibling, owner of Aurora Asphalt & Sealcoating in Champlin, Minnesota.
To remove an existing driveway, prep the surface, put down gravel and install a new asphalt driveway, Jones charges about $5 per square foot or $2,500 for a 500-square-foot driveway. Sealant. Sealing an asphalt driveway is recommended to extend its life. After the asphalt is laid, says, Jones of California Asphalt Professionals, it can take at least six months for it to fully harden and for the oils to evaporate.