If you're out of warranty xbox 360 repairs can cost up $150 plus shipping and handling, but you can repair or prevent some of the major problems at home.
E74 Error/1 Red Light
This is caused by a hardware failure - usually in the scaler chip which controls the graphics in your games. You'll probably need to ship this off to get it fixed, but you can find out if it's the console or the accessories by turning off the console, unplugging all the cables then turning it back on and reconnecting. Next, turn off the console, unplug all accessories (controllers, memory cards, hard drive) and turn it back on again. If the error is gone when the accessories are out then the problem lies with them. You might find it's cheaper to buy replacement accessories than pay the hefty repair fee.
2 Red Lights
This is caused by overheating and you can fix it by turning off the console for a few hours. Prevent overheating by keeping your xbox in a well-ventilated area and keeping it clean and dust free. If you're out of warranty, give it a clean inside and out - but beware, opening the console will void your warranty if you still have it.
4 Red Lights
Simple and quick to fix - this is caused by a loose AV cable. Switch the console off and reconnect the AV cable, making sure the largest part is almost touching the console.
Red Ring Of Death/3 Red Lights
This is a general hardware failure and if you're out of warranty then this is just about the worst thing that can happen. Try turning the console off, disconnecting everything, turning it back on and reconnecting. You could also try giving it a clean as it could be due to overheating and/or dust. You will probably have to send it off for repair to Microsoft, although you could try repairing it yourself with one of the home repair guides.
You can prevent Xbox 360 repairs by following 3 simple rules: keep the console in a well ventilated area, keep it clean and free from dust, and take steps to avoid overheating.
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