Alex,

Don't use latex! it will stick to itself and even if coated in talc will not setup well and has a tendency to pull away from the hose and collapse. Use Plasti-Dip instead. I get black at Home Depot or Lowes or order clear online. Depending on where you live Napa Auto sometimes has clear in store. Use the pourable liquid, not the spray. I pour the whole can in, run it back and forth and then drain out the machine end back into the can. 2 quick thin coats, applied about an hour or two apart,  work better than one thick. It fully cures in about 24 hours and stays flexible once cured and it is not sticky so dirt/dust does not cling and it won't collapse on itself like latex can.

Clear is better if you can find it, especially for very leaky hoses.  With the clear you can also apply to the outside and prevent any further abrasion to the hose. One last caveat, I've only used this on a few hoses with minor leaks and in basically good condition. I've been very happy with the results.

Tom

Well they may have stopped making it, but it's still out there, or was as of April of this year as I bought 3 cans of it from Napa Auto then. But good to know, I'm going to have to see if I can get any more as I prefer the clear... one more thing to hoard. And Rob, I absolutely agree with you about the spray.... it would take about 50 coats to seal up a hose and would take weeks to do.

Tom

Well dang it all to heck.... called Napa and there is no more clear available... should have bought the case when I had the chance....

But the industrial version - Rubber Dip is still available in Matte Clear, but you have to buy by the gallon.