It all depends on which lights are red. . . it could be the dreaded red ring of death.

https://en.wikipedia.org/wiki/Xbox_.....nical_problems

Oh wow. Now I am worry that it will happen to the one here at my home that my nephew and his son use to play games. Till you get it fixed or replaced, think of all that extra time you will have to get so many other things done.

red ring of death been bug part of every x-box sadly.

NOT a red ring. A red dot

If you do a search for the Xbox 360 Red Dot it could be a number of things. Some people say it's the Hard drive, which is just an easy fix of pulling it out and putting it back in. Others say it's the DVD drive that needs replaced or an issue with the heat sink on the processor. It all depends on what the actual problem is. A replacement DVD drive is about $27, the heatsink would be under $10. Both of these options would require you to take apart the Xbox and have the correct tools on hand, which might cost more. Optionally a replacement refurbished system is going to be around as $60 from Gamestop.

Not sure if you're still reading this journal, but I'd go with what Tevon said, except taking apart the 360 yourself requires plenty of patience and some intuition. However, it can be done by yourself. Then again, I only know this because I used to work at a recycling center that broke down electronics so I know how to take most everything apart. Putting them back together again and having them work... Eh, sometimes things work. =P