I'd return it...no sense messing around with it if its brand new. I bought a Bass Pro baitcaster reel, and after a month or 2 I thought it wasn't working properly, so I took it apart to clean it and lube it...hasn't worked right since. I think the less expensive BPS reels are crap, even if they are close to $100, but that's another story. If I hadn't messed with it, I might have been able to return it still.
Yeah , return it. Isn't worth messin up further if you dropped good money on it. One of my older Daiwa started having an issue where it was grinding/hesitating every so often, I've cleaned it, dismantled it and lubed it..but I think it is slightly crooked. If that's the case with yours no amount of wd40 will make it straight.
If you had it for a couple years, then yeah you might wanna try a few things but since that isn't the case make it someone else headache not yours
and just exchange it.
If you had it for a couple years, then yeah you might wanna try a few things but since that isn't the case make it someone else headache not yours
and just exchange it. 
