Just because you’re on a budget, doesn’t mean you can’t get as much guitar as possible for your money. With the right knowledge, it’s not hard to make your spending go as far as possible in 2024, and we’re on hand to help guide you in making the right purchase for your needs. With the best cheap electric guitars under $500, you might be surprised at how much you can get for your hard-earned cash.
We’ve spent a lot of time reviewing guitars for this guide, determining the playability of the neck, the sounds of the pickups, the durability of the hardware, and the quality of the finishing. We have a wide range of guitarists on hand here at Guitar World, from those who like to shred metal guitars to fingerstyle blues players. This means we get a balanced overview of what guitarists want in an instrument at this price point.
Our expert team will help you decide whether it has the right tone for your preferred genre of music as well as whether or not it’s a good match in terms of neck profile and general playability. If you’ve got any questions you want answered before you buy, make sure to have a look at our buying advice section which features loads of great advice from the expert team here at Guitar World.
Best cheap electric guitars under $500: The quick list
Punching well above its weight in terms of tone vs cost, the Squier Classic Vibe Tele Thinline delivers supreme playability and versatile tones without costing the earth.
The Strat remains one of the most popular guitars in the world, and we love this humbucker-equipped version which gives you fantastic tonal versatility for relatively little money.
The P90 pickups of the Epiphone Les Paul Special TV Yellow deliver some incredible tones. For the money, this is undoubtedly one of the best LP guitars you can buy right now.
If you're looking for the perfect beginner electric guitar on a budget, this Epiphone Les Paul Melody Maker is a fantastic choice that gives great sound and value for money.
Want a guitar that you can properly chug with? The Schecter Demon-6 is about as good as it gets for the sub $500 mark, with a pair of powerful humbucking pickups and a fast-playing neck.
If you're after an offset guitar the Squier Classic Vibe 60s Jazzmaster is a great choice for less than $500. Powerful switching options and expressive tremolo make it a great guitar.
Best Telecaster
1. Squier Classic Vibe '50s Telecaster
Our expert review:
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a versatile instrument: Thanks to its two very different pickup sounds, this Telecaster can help you cover everything from hard rock to country.
❌ Avoid if you prefer modern guitars: Based upon a classic '50s Telecaster, this is a simple instrument without many of the embellishments of other more modern instruments.
The Squier Classic Vibe ‘50s Telecaster is undoubtedly the best Telecaster guitar you can get for less than $500. It’s a simple guitar, but it does its job incredibly well and will provide you with a versatile instrument that can cover a lot of different sonic territory.
The two Alnico single coil pickups match a very bright bridge position with a dark neck position, which is how it can work in so many different styles. Whether you need that smooth Rage Against The Machine riffing tone of the neck position, or the cutting treble tone of the bridge that will shine in any mix, you’ll be hard-pressed to find a guitar quite as versatile as this one.
The classic three-saddle bridge is part of what gives the Tele its distinctive sound, and here you have three steel saddles for an even brighter tone. It’s also available in a huge range of colors, whether you prefer something vintage-inspired or a more modern touch making it our number one choice for a brilliant Telecaster on a budget.
Best Stratocaster
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want to cover any style: Having both humbucker and single coil pickups means you can go from metal tones to jazz at the flick of a switch.
❌ Avoid if you prefer vintage guitars: While we love this guitar's versatility, we can understand some players will prefer the classic Strat lineup of three single coil pickups.
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.
Read the full Squier Affinity Stratocaster FMT HSS review
Best Les Paul
3. Epiphone Les Paul Special TV Yellow
Our expert review:
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a guitar for rock and punk: As well as looking absolutely incredible, this Epiphone Les Paul features two P90 pickups that make it great for edgier styles of music.
❌ Avoid if you want a lightweight guitar: Les Paul's are heavy thanks to their Mahogany bodies and necks, so you'll feel the weight of this guitar especially when playing standing up.
For us, it doesn’t get much better than the Epiphone Les Paul Special at the sub $500 price point. This version carries two P90 pickups and the classic Gibson TV Yellow finish, making an incredible guitar for relatively little money.
Sitting halfway between a humbucker and a single coil, the P90 pickups deliver an exceptional tone that goes from a gritty growl right the way through to sumptuous clean tones. It’s got quite a cutting tone that sits well in a full band mix, with bags of sustain and complex harmonic content.
The 50s fat neck profile might at first feel quite hefty, especially if you’re a beginner player, but once you get used to it you get unrivaled playability. The feel is exceptional and makes this guitar hard to put down. The only negative we can see here is that there’s only one color available.
Best for beginners
4. Epiphone Les Paul Melody Maker
Our expert review:
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a beginner guitar: As well as being fantastic value for money, this guitar plays great for beginners thanks to its lightweight body, perfect for the budding guitarist.
❌ Avoid if you want a lightweight guitar: Les Paul's are heavy thanks to their Mahogany bodies and necks, so you'll feel the weight of this guitar especially when playing standing up.
Formerly known as the Les Paul SL, the Epiphone Les Paul Melody Maker 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 Melody Maker 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 Melody Maker 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” stop bar tailpiece, 'tophat' master volume and tone controls with a three-way toggle switch and premium die-cast 14:1 tuners.
Epiphone imbued the Melody Maker’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 Melody Maker review
Best metal guitar
5. Schecter Demon-6
Our expert review:
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a metal guitar: With its high output humbuckers and fast-playing neck, the Demon-6 is the perfect guitar for playing metal on a budget.
❌ Avoid if you like vintage tones: With it being so geared towards metal, it's probably not the best choice if you're really into Delta blues.
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.
Best offset guitar
6. Squier Classic Vibe 60s Jazzmaster
Our expert review:
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want an offset guitar: Based on one of the original Jazzmaster designs, this guitar embodies all the principles of a great offset instrument at an excellent value price point.
❌ Avoid if you don't like tweaking your instrument: The Jazzmaster tremolo can be a finicky beast, and not everyone will love having to adjust string gauges to find the best balance.
With the recent surge in popularity of offset guitars, the Squier Classic Vibe 60s Jazzmaster is a great way to get your hands on an offset without spending loads of money. Its combination of quality build and unique tone makes it a great choice for any guitarist looking for that particular flavor of tone.
The Jazzmaster pickups are single coils but have a different construction to those you’d find on a Strat or Tele. It’s a super versatile sound that’s equally at home laden with fuzz and reverb for alt-rock sounds as it is actually playing clean jazz licks.
The combination of a three-way pickup switch, 2 thumbwheel controls, two volume controls, and a single tone knob means you’ve got a huge selection of sounds at your fingertips. The classic design of the Jazzmaster tremolo can sway people either way, but if you’re the sort of player who wants something different from a Strat or Tele, this guitar is a great choice.
More options...
Our top six picks can cover a lot of different ground but that's not all there is. We've tested loads of different guitars in our pursuit to find the very best cheap electric guitars under $500, so keep scrolling to see what else is out there for the guitarist on a budget.
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want to maximize your budget: With a Roasted Maple neck, locking tuners, and a versatile set of pickups, the Cutlass will max out your budget, but you'll be getting a phenomenal guitar for your money.
❌ Avoid if you're on a budget: This is one of the priciest guitars on this list, so definitely avoid it if you haven't got the full $500 to spend.
As far as versatility goes, a guitar with an HSS pickup format will help you cover a lot of ground. It’s right at the $500 mark, but the Sterling by Music Man Cutlass CT50 HSS gives you the performance and specs of a guitar twice the price.
The pickup configuration ensures you’ve got enough heft for heavier styles thanks to the bridge humbucker, while the two single coils in the middle and neck position offer slinkier tones that will fit into a variety of different types of playing.
A roasted maple neck and fretboard combo give this guitar a premium feel, delivering an excellent playing feel and reliable performance. Locking tuners, something typically found on more expensive guitars, give you extra stability with the tremolo, as well as help the guitar keep its tune more generally.
Read the full Sterling by Music Man Cutlass CT50 HSS review
8. Epiphone Coronet
Our expert review:
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a simple guitar: The Coronet has a single P90 pickup and a wraparound-style bridge, which makes it super simple to use and maintain.
❌ Avoid if you want lots of tones: Due to this simple nature, it's not the most versatile if you want to play many different music styles.
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 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 wrap-over 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.
Read the full Epiphone Coronet review
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a lightweight, Mahogany guitar: Mahogany guitars sound great, but they sure are heavy. Yamaha has gotten around this by chambering the body, giving the Revstar a much lighter weight than you'd expect.
❌ Avoid if you like traditional guitars: The design is cool, but we can appreciate that not everyone will dig it, so one to avoid if you're set on a Strat or Les Paul-type guitar.
It's fair to say we've been massive fans of the Revstar series since their debut in 2015, and with Yamaha recently updating the guitars to improve their playability, comfort, and visuals, we couldn't be happier.
These stylish and well-crafted instruments now come with a lightweight chambered mahogany body, which Yamaha says is to "sculpt tone and reduce weight". The RSE20 is also loaded with a dual set of Yamaha Alnico V humbuckers, which, when paired with a 5-way selector switch and the Revstar's high-pass "Dry" switch, deliver endless tonal possibilities.
For us, the Yamaha RSE20 proves that you can get a reliable, great-playing, and stellar-sounding guitar for under $500. It's worth noting that the left-handed model costs slightly more than $500, but despite this, we still think it's worth it!
Read our full Yamaha Revstar RSE20 review
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a rock & roll guitar: The SG is synonymous with rock guitar thanks to countless big names that utilized it. Two humbuckers and excellent upper fret access make it perfect for the genre.
❌ Avoid if you want something versatile: The SG is not completely one-dimensional in terms of tone, but there are others on this list that are more versatile.
If you’re in the market for a proper rock machine, the Epiphone SG Standard is a fantastic option at the sub-$500 price point. Despite the Les Paul being a bigger name in the world of guitar, it’s actually the SG that is the best-selling instrument in Gibson’s stable, and as you’ll find here, for very good reason.
Loaded with two Alnico humbuckers this SG is tight and controlled that reacts beautifully to dirt tones. It’s got a nice emphasis in the midrange - something the SG is famous for - and we found that it handled hefty doom-laden riffing just as well as it did pristine clean passages.
The 60s SlimTaper neck gives you lovely playability that makes it great for chunky riffing. The excellent upper fret access means you can make use of all 22 frets, another famous SG characteristic, and we found it a simply joyous experience to play. CTS pots and a GraphTech NuBone nut round out this guitar’s excellent value-for-money feature set.
Read the full Epiphone SG Standard review
12. Jackson King V JS32T
Our expert review:
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a guitar for performing: V-shaped guitars are designed for the stage, making this one perfect for the metalhead who will be regularly playing on stage.
❌ Avoid if you only play at home: If you're only playing at home, you'll probably get a bit tired of standing up and playing this guitar all the time.
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.
13. Ibanez S521
Our expert review:
Specifications
Reasons to buy
Reasons to avoid
✅ Buy if you want a guitar for shredding: Ibanez makes some of the fastest-playing guitar necks in the business, and this S-series guitar is suitably rapid feeling.
❌ Avoid if you only play clean tones: This guitar is definitely more geared towards distorted tones, so you might want to look elsewhere if you only play clean.
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
Are guitars under $500 worth it?
In short - yes! To be honest, in this day and age, it's pretty difficult to track down a genuinely awful guitar. Advancements in technology have made high-quality instruments more accessible than ever before, with anyone being able to pick up a giggable guitar for well under $500!
While there is certainly an allure to expensive and premium six-strings, some guitarists just prefer to opt for a cheaper, more accessible model over a hand-crafted Custom Shop guitar at times.
For example, Biffy frontman and lead ax-slinger Simon Neil headlined Glastonbury playing his signature Classic Vibe Strat, and Mike Rutherford of Genesis played arenas with a $200 Squier Bullet. So, 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!
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
You can trust Guitar World Our expert reviewers spend hours testing and comparing guitar products so you can choose the best for you. Find out more about how we test.
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.
Read more about our rating system, how we choose the gear we feature, and exactly how we test each product.
How we choose the best cheap electric guitars under $500
At Guitar World, our team of writers understands that not everyone is able to spend loads of money when they're after a quality instrument. When it comes to selecting the best affordable electric guitars under $500, we merge our love for accessible gear with a discerning eye for performance to give you a great recommendation.
Navigating the budget-friendly guitar landscape requires a keen understanding of playability, tonal versatility, build quality, and, of course, value for money. We've extensively tested a variety of options, from classic designs to modern innovations, ensuring that our recommendations not only fit the budget but also exceed expectations in terms of sound and craftsmanship.
When testing an instrument we'll look at every aspect from the quality of the hardware to the sound of the pickups, testing in a variety of scenarios whether it's playing at home or blasting it through a tube amp on stage. We'll check the fret ends, the action, and the intonation out of the box, judging how easy it is to make adjustments and whether it will need further work to make it playable to a good standard.
We've selected options for beginners embarking on their musical journey or experienced players seeking a reliable backup. Each recommendation has earned its spot through rigorous testing, guaranteeing that whether you're strumming chords or unleashing blistering solos, our suggested guitars under $500 will be your trusted companions on the road to musical excellence.
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