When it comes to the best cheap electric guitars under $500, It's pretty mind-blowing just how much choice there is in the market. Even as little as 10 or 15 years ago, your options would have been limited at best - and most of the time, pretty uninspiring - but that’s not the case anymore. With so many options from brands like PRS, Epiphone, Gretsch, Ibanez and many more, us guitarists have never been so lucky. Many of these guitars are highly versatile, and would make either a brilliant beginner electric guitar, or a cool second guitar if you have already found your dream electric.
You can expect solid, durable guitars that are built to a high standard and sound great. In fact, that clear divide between flagship, often American-made electric guitars and these more budget-friendly electrics has become even more blurred. On YouTube, blind tests have left industry experts scratching their heads over what exactly they are hearing: premium or budget electric.
Some guitarists even prefer to use cheaper, more accessible models over their Custom Shop guitars at times - most notably Simon Neil headlining Glastonbury playing his signature Classic Vibe Strat, and Mike Rutherford of Genesis playing arenas with a $200 Squier Bullet. If this doesn’t reassure you that the best cheap electric guitars under $500 are worth their salt, then we’re not sure what else to say!
We've included some expert buying advice at the bottom of this guide, so if you'd like to read it, click the 'buying advice' tab above. If you'd rather get to the products, keep scrolling.
Best cheap electric guitars under $500: Our top picks
If you’re looking for the best electric guitar under $500, we'd highly recommend the PRS SE Standard 24, as there’s a lot to be said for just how much ground one PRS guitar can cover. The SE Standard 24 is the kind of guitar that will thrive in any setting, whether you’re after glassy funk tones (thanks to the coil split) or creamier and meatier high-gain sounds.
Considering the fair few thousands of dollars between this budget electric and the flagship American-made Custom 24 line, there’s not much noticeable difference in what you hold in your hands. And though it might not have the exact same contouring or come in ultra-deluxe finishes such as the jaw-dropping Violet Smoke Burst, you do get the world-renowned bird inlays, components and craftsmanship PRS has built its name on. We love it so much we also included it in our guide to the best beginner electric guitars.
In terms of sheer value for money, it’s practically impossible to beat the Epiphone Les Paul SL. This electric guitar is a steal to the point where it leaves you wondering how any profit is being made at all. With six finishes to choose from and many of the key tonal attributes you’d be expecting from a Gibson-style guitar, thanks to its thicker-sounding ceramic single-coils, there really is no down side here.
Best cheap electric guitars under $500: Product guide
A younger brother of sorts to the S2 Standard 24, the PRS SE Standard 24 gives you a ton of bang for your buck. Though its Vintage Cherry-finished top makes it look a bit cheaper than the S2, the guitar does - unlike the S2 - come with bird inlays as a standard feature.
Its non-locking SE-level tuners are incredibly easy to handle, while its vibrato is near identical in appearance to the S2's. The guitar's electronics are installed in a cavity as - just like the traditional USA-made Custom 24 design - the SE Standard 24 features no scratchplate.
Though the SE Standard 24's action and vibrato response aren't quite ideal, the guitar's player-personal setup helps to rectify these issues as they arise. Tone-wise, the SE Standard 24 really comes into its own at this price level.
The biting lead tones and full, expressive and fantastic rhythms - everything you'd expect from a PRS - are all here. Though you won't be able to go blow for blow with an S2 with the SE Standard 24, at this price point, it's an incredibly impressive and formidable instrument.
Read the full PRS SE Standard 24 review
A merger of the Les Paul Junior and the Melody Maker, the Epiphone Les Paul SL is one seriously kick-ass guitar. Its poplar body is light as a feather but still has all the substantial heft of a Les Paul Junior without feeling cumbersome. The SL features a custom single-ply pickguard that surrounds the two Epiphone 700SCT (bridge) and 650SCR (neck) ceramic single-coil pickups.
Aside from that though, the SL is a typical single-cut Les Paul Junior with no binding, a mahogany neck, a slim-taper D-profile neck shape, 22 medium jumbo frets, an adjustable intonated “wraparound” stopbar tailpiece,'tophat' master volume and tone controls with a three-way toggle switch and premium die-cast 14:1 tuners.
Epiphone imbued the SL’s ceramic pickups with plenty of body and roundness, which gave these plump single-coils a great deal of touch-sensitivity. Even from a cranked amp, they still sound incredibly balanced and defined.
The guitar stands perfectly well on its own as an instrument that is poised for rock and blues, with a distinctive tone that cuts on its own terms. What’s even better is how flawlessly the guitar plays, thanks to Epiphone’s consistent textbook setup on its instruments.
Read our full Epiphone Les Paul SL review
Smooth, affordable and ferocious all at once, the Schecter Demon-6 is perfect for unleashing your inner speed demon. The guitar's thin-C profile neck, cut from maple with a satin finish, is incredibly quick and rewards a light touch.
The bridge is simple but well-built, while the guitar's active pickups - powered by an easily accessible nine-volt battery - are absolutely terrific. Otherwise, the updated Demon-6 remains the same as its predecessors, with industrial black chrome hardware, burled tone and volume knobs and a Crimson Red Burst finish.
Tone-wise, the Demon-6 truly lives up to its name. The bridge humbucker is a workhorse with strong, growling mids and an absolutely diabolical amount of high-end - a gold mine for metal soloists, no doubt.
Those who don't wish to summon demonic forces with their playing will find that the Demon-6's cleaner tones are just as satisfying. Any punchy classic rock riffs are a breeze, while the cleanest settings yield startlingly articulate leads that are more than adequate for even the most subtle of parts. This electric guitar is - despite its maker's metal target audience - a true all-rounder.
Squier's take on the classic '70s Fender Telecaster Thinline brings the guitar's iconic looks and sound to the table at an incredibly affordable price point. With a white pearloid scratchplate, finely carved f-hole and Fender-embossed humbuckers, Squier's version of the guitar certainly looks the part. Though, like most other Squier guitars, the Modified '72 Telecaster Thinline features a gloss-finished modern C neck, the guitar's performance and tone - considering its price tag - is simply phenomenal.
The '70s Telecaster Thinline's cleans from the neck and middle positions are rock-solid. Reminiscent of the sounds produced by fat P-90-esque single coils, they pack plenty of punch, while the semi-hollow body makes for a woodier, less aggressive tone than you'd get from a straight-up solidbody.
The bridge humbucker yields a much more formidable voice that would sound right at home coming from an overdriven, cranked-to-11 valve amp. The guitar's open midrange makes it ideal for both delicate fingerpicking and massive, in-your-face rock riffing. Like its Fender-produced big brother, the Squier Modified '72 Telecaster Thinline is a beautiful instrument that can wear any number of hats.
When it comes to guitars with the perfect combination of cool styling, righteous tones and amazing value, Danelectro has been the guitar industry’s shining city on the hill since 1954. The company's '59XT model is no exception. The guitar's tone is rich, thick, dynamic and musical. Its neck has 21 jumbo frets with a shallow, rounded profile, while the profile itself is a shallow C shape that plays fast and comfortably.
The pickups consist of a high-output single-coil P90 at the neck position and a pair of iconic Dano lipstick tube pickups placed side-by-side in a humbucking configuration at the bridge position. The Wilkinson tremolo is floating, so users can raise or drop pitch.
The '59XT's tone is simply ferocious. The P90 and lipstick humbucker absolutely roar with a vicious snarl, emphasizing delicious upper midrange frequencies that slice through a mix without sounding shrill or harsh. The Wilkinson tremolo has a vintage-style non-locking design with all of the expected tonal benefits, but even the most aggressive whammy action won’t knock the strings out of tune.
Read our full Danelectro ’59XT review
Sterling by Music Man is responsible for some of the coolest, best feeling cheap electric guitars money can buy at the moment. The Cutlass, in particular, is one of the most versatile and (in our opinion) one of the best sounding guitars in their affordable roster.
This short scale version of the Cutlass is really ideal for anybody, whether you’re a child or young person looking for your first guitar, or an experienced player looking for something new that feels a little different. Short scale means less string tension, which in turn means playability in spades - and that can only be good, right?
The Sterling own-brand pickups offer sweet, chimey cleans in the neck position and full-fat grit in the bridge, and the two-point trem facilitates smooth, musical vibrato which will make you want to come back for more.
This slim mahogany single-cut can genuinely give a Les Paul a run for its money. Featuring two incredibly responsive Broad’Tron pickups, the Gretsch G5220 Electromatic Jet BT Single-Cut can handle both detailed, expressive lead work and scorching hard-rock with equal aplomb.
Though the fretboard is made of black walnut, the guitar is smooth and elegant enough to pass for a much more expensive instrument at first glance.
The Broad’Tron is a humbucker-sized Filter’Tron- style (PAF warmth and single-coil brightness), giving the guitar pristine cleans with a touch of vintage Gretsch twang. Hard-rock and even metal tones are no sweat for this thing either.
Its harder-edge tones are confident and formidable, without losing any of the articulation the guitar exhibits when engaged in more subtle work. The guitar's low action and player-friendly tension will also have you waking up the neighbors as you play into the night.
The Fender Strat has long been considered one of the most versatile guitars of all time, and when you throw a high-output ceramic humbucker into the mix, it gets even better.
The Affinity series may be the entry-level point into the varied catalog of Fender guitars, but it certainly doesn’t hold back on quality. Featuring an attractive flame maple top, a slim and comfortable C-shaped neck and the iconic large 70s headstock, it’s hard to believe this guitar comes in under $500!
The ace up the sleeve of this budget-friendly Strat is the Squier humbucker and single-coil neck and middle pickups. This allows you to achieve any tone imaginable with a simple flick of the 5-way selector switch.
The Epiphone Coronet, first introduced as a reliable and solid entry level guitar back in 1959, is an icon of Epiphone’s solid-body guitar range. Reissued multiple times since, the Coronet has proven itself to be a firm favorite. We can see why.
Equipped with a single Dogear P90 in the bridge position, the Coronet means business from the first glance. You can expect gritty, abrasive driven tones perfect for blues and rock, and with it being a fat single coil, the cleans are smooth, punchy and prominent in any mix.
The Coronet’s hardware configuration continues the minimalistic theme, with a fixed wrapover bridge and vintage-style machine heads adorning this straight-to-the-point axe. For under $500, this is ideal for anyone who wants to make a no-frills racket on a budget.
The Sterling by Music Man Albert Lee HH provides the eye-grabbing looks and the amazing buffet of tones supplied by its Ernie Ball Music Man-produced counterpart at a price that won't make you cringe when you check your bank account post-purchase.
Like the Ernie Ball Music Man version, the Sterling Albert Lee HH is built with an African Mahogany body and two humbuckers wired to a five-way-switch. The vintage tremolo, optional on the Ernie Ball Music man edition of the instrument, comes standard.
Though it lacks the DiMarzios its big brother features, the Albert Lee HH's Sterling by Music Man four-conductor humbuckers certainly don't slouch themselves. From gorgeous, ringing cleans to chunkier single-coil sounds that charge forth with impressive clout, the Albert Lee HH punches well above its weight.
With its sturdy, player-friendly construction and dazzling tonal variety, you can see why Lee was convinced to abandon his signature vintage Teles to design his own standout mode - now available at an affordable price.
Sleek, and chock-full of visual and sonic attitude, the Jackson King V JS32T is simply one of the best bang-for-your-buck deals in the metal guitar market today. With Jackson's trademark pointy headstock and Sharkfin position inlays, this thing makes a hell of an impression before you even play a note.
The King V JS32T features a bolt-on, graphite-reinforced maple speed neck with 24 jumbo frets and a 12" to 16" compound-radius. The guitar's two Jackson humbucking pickups are fitted with ceramic magnets.
The King V JS32T's tone is incredibly aggressive, while its sustain would please even the Nigel Tufnels of the world. The guitar's compound-radius makes it incredibly easy to play. Sustained, steady riffage and hurricane-speed shredding both end up being a piece of cake as a result.
Its low action also lends a hand to the instrument's shredding prowess, while also paving the way for titanic string bends. Lean, mean and incredibly easy on the wallet, the Jackson King V JS32T is certainly a force to be reckoned with.
The latest evolution in Ibanez's S series, the S521 gets you the look (and a lot of the great tones) of an Ibanez at a terrifically low price. The guitar's rosewood fretboard is two-octave and features 24 jumbo frets, while its mahogany body is coated in an eye-catching burst finish.
Quantum pickups (in the neck and bridge) plus a five-way switch also come as standard. Overall, the Wizard III maple neck is well-constructed and reliable. The Cosmo black finish on the S521's hardware adds an elegant touch to the low-budget model.
The S521's fretboard is incredibly quick, and smooth as silk. Tonally, though the guitar's cleans aren't always top-notch, its mid-range is phenomenal. On the higher end, its articulation is quite good and expressive, with leads sounding lean but nimble. In addition to its rock-solid variety of tones, the S521's sustain stands out within its price range.
Best cheap electric guitars under $500: Buying advice
What makes a great budget electric guitar?
It’s all well and good for a guitar to be cheap, but a guitar has to be more than just affordable for us to include it in this guide to the best electric guitars under $500. For starters, the guitar should be well-built, finished to a reasonable standard, and sound great. Each of the hand-selected guitars on this list certainly meets this criteria and offers bags of style and superb value for money.
When looking at guitars in this price bracket, it’s essential to check the common areas in which entry-level guitars tend to fall down.
Frets can make or break your new cheap electric guitar. Now, thankfully most guitar brands won’t let a guitar out of the factory with a bad fret job, but it’s always worth checking them out just to be sure. Are the edges a bit sharp? Do they protrude out from the edge of the fingerboard? If so, we’d take a visit to a guitar tech to get those sorted out. Sharp frets will stop you wanting to play the guitar - and that’s exactly what we don’t want to happen.
Hardware is another crucial factor in what makes a cheap electric guitar good. All of the guitars in this guide feature solid and durable hardware which, if cared for and maintained correctly, will see you through most of, if not all of your guitar playing career. If your hardware isn’t up to scratch, you’ll have problems with your tuning, intonation and the playability of your guitar will suffer - so we think it’s worth spending some money and getting a well-made instrument with good hardware.
The neck of a guitar - being the part you hold in your hand whenever you play - needs to be comfortable in your hands. Now, going to a guitar store is the best answer here, as you can hold a few in your hands and see what feels right for you, but if you’re buying online, there are a few things to take note of. Most of the time, online guitar stores will tell you if the neck is thin, fat, wide, narrow, gloss-finished, satin-finished in their product descriptions - but if that’s not the case, most guitar stores will be happy to take a phone call if you want to double-check.
Pickups and electronics are also important - but not nearly as important as how a guitar feels to play. Of course, it helps for everything on your guitar to be perfect from the get go, but if you love a guitar and hate the pickups, you can always swap them out. If that’s the case, it might be worth checking out our best electric guitar pickups guide.
What style of guitar should I choose?
The first thing to consider when choosing from among the best budget electric guitars under $500 is what kind of tone you hear in your head. Is it darker and warmer? Thinner and slinkier? Somewhere in between?
To get an idea, look into the specs of the guitars wielded by your biggest guitar heroes or the players you’re attempting to sound like.
Funk players inspired by Nile Rodgers might gravitate towards Fender Stratocaster style guitars because of their single-coil pickups and five-way tone switch. Most Strat-style guitars also use body woods like alder or ash that are perfect for cutting through above any rhythm section, whereas heavy metal guitarists tend to prefer the hellfire of mahogany bodies wired with hotter humbucker pickups, in some cases with active circuitry.
Jazz guitarists, on the other hand, might gravitate to the woollier sound of a semi-acoustic with flatwound electric guitar strings. It’s worth bearing in mind that all of these factors will affect the tone of an instrument before any further coloration from amplifiers or pedals.
Other features to consider
Guitars can come with a lot of different features that vary from model to model. For example, some come with a vibrato or whammy bar. If this isn’t something you see yourself taking advantage of, then it may be wise to avoid it. Likewise, a guitar with a locking tremolo such as a Floyd Rose requires a little more work to maintain and restring, so if you don’t need it, go for a fixed bridge guitar.
Then there’s the physical aspect of holding a guitar for hours on end. Do you prefer the sonic muscle of something heavy or instead like the idea of something less taxing on the spinal column? Ultimately, you should go with whatever feels most natural under the fingers. Try as many models as you can. See if you can remember what was different about the guitars you liked and the ones you didn’t, bearing in mind that action and string gauges can always be adjusted to suit each player.