First of all, you can employ this towel trick for fixing your xbox 360 within 20 minutes. I do not recommend it from my own personal experience because unless you have a fire extinguisher. The chances of your xbox 360 catching on fire is high as this towel trick is to overheat the xbox 360.
2. Sending to Microsoft for repairs
This fix is the most common fix that most people would do. However, sending to Microsoft costs you $140 and 2 weeks of time in delivery. One added risk is here sending to Microsoft does not have a guarantee fixed on the repair.
3. Finding your local shop to fix your xbox 360
Sending your xbox 360 for repairs costs lesser than sending to Microsoft for repairs. Do check with your local shop as most of these fixes are cheaper than Microsoft's price of $140. My own local shop offers a price of $70 to $100 for fixing the xbox 360. Also, the time they take to fix the xbox 360 is about 1 week with a warranty of 1 week and up to 1 month.
4. Using repair guides to repair the xbox 360
This is one of the safest methods that I recommend because it does not use towels or any other unorthodox fix on the xbox. Instead, there are video tutorials which teach you how to replace parts within the xbox 360 so that the fix is permanent. These fixes normally have a 100% money back guarantee of 2 months and costs ranges around $40.
Another added advantage to such repair guides is that there are additional upgrades that are coupled together with the repair itself. Such upgrades give the xbox better graphics, like HDMI and even more freebies.