WEll Im assuming you bought a RTR since its only been one day and your already running it. Thats why I always say build your own from scratch and then if you have a problem you know how to fix it cause you built it. I recently built a FActory Team T4 and I love it.
Can you turn the wheels with your hand? Where is the binding? Can you turn the pinion and spur gear freely? Does it run normally until you let off the throttle?