What is the Problem with My Tv?

I have an LCD 32" Vizio that I bought refurbished (maybe a bad idea). I have had it since May and it has been great until Wednesday when the screen was kept replaying the same picture and sound that happened for about 30 seconds then it turned bright pink, white and red. Then I turned it off and turned it back on and the screen was just black. So, I unplugged it then plugged it back in and it was fine for about 30 seconds but it went to the pink and distorted screen. I unplugged it and made no attempt to watch it after that. I looked into what was wrong and came up with the panel has gone bad and the cost to fix that just isn't worth it. I want a second opinion to what someone else thinks. Should I buy a new tv, or repair it with new parts?

Suggestion:

Geek Squad doesn't touch Vizio. Either the LCD panel is bad, which I suspect or it's theoretically possible replacing the tcon would fix it but sounds like a bad panel. Make sure it's not a source issue! If you have a cable box unplug it to reboot it before you condemn the set! Replacing the panel is not cost effective.