Thanks to the instrument’s rich history, decades of design and development, and the prevalence of high-quality CNC machining, it’s never been easier to find an electric guitar under $500. Unlike the budget guitars of years past—which often suffered from issues with durability, tuning stability and overall playability—approachable electric guitars today are built to precise standards and designed for comfort and reliability above all else. Whether you’re looking for an affordable way to build your existing guitar collection or you’re shopping for a beginner-level instrument, a sub-$500 electric guitar is a great way to get very close to the sound and feel of the pro-level instruments after which they’re modeled while spending less than half the money. In this article, we’ll dive into the best electric guitars under $500 currently available and detail what sets them apart from the crowd.
When selecting the best electric guitars under $500, we combined personal musical and production experiences, as well as the opinions of trusted peers, published critics, and online user impressions. We also considered a handful of criteria when compiling our list, beginning with the sound of a guitar, so we selected products that are capable of delivering some of the most versatile and well-known tones from popular music throughout history. In the case of purely electric guitars, the tone is dictated largely by the pickup configuration, while the acoustic-electric guitar’s body and pickups both contribute equally to its sound performance.
The design and materials of an electric guitar, in general, play a significant role in the overall playability of the instrument, so we aimed to select electric guitars with woods, finishes, and designs that are easy to play and comfortable to hold. But great instruments are becoming more affordable every day, so we selected instruments that offer the best price-to-performance ratios available, whether as a standalone guitar or as a part of a bundle. Finally, brand reputation goes a long way in determining whether an electric guitar is likely to satisfy its users. Manufacturers like Fender, Gibson, and Martin have decades of experience under their belts, and their sub-$500 instruments are designed specifically to emulate their more expensive guitars at a friendlier price.
The Best Electric Guitars Under $500 Of 2023
Why it made the cut: The Squier Classic Vibe ’50s Telecaster pulls off the clarity, responsiveness, and unmistakable twang of a vintage Tele at a wallet-friendly price.
The Squier Classic Vibe ’50s Telecaster is one of the best guitars under $500 currently available, boasting a build quality and finish that prove you don’t have to spend a fortune to find an instrument that sounds, feels, and looks fantastic. It’s built from a sturdy and rather heavy combination of pine and maple and comes in two distinct polyurethane body finish options (white blonde or butterscotch blonde) paired with a black pickguard to closely emulate the look of Fender’s legendary “black guard” Telecasters from the early 1950s. The guitar’s two single-coil Alnico pickups gracefully deliver Fender’s timeless palette of warm and woody tones at the neck coupled with a bright and snappy bridge sound, and its modern C-shaped neck features a 9.5-inch radius to maximize comfort and ease of playability.
Overall, Fender’s quality control of the Classic Vibe ’50s Telecaster is excellent, but its price point corresponds to a relative lack of attention to some small finishing details. While any guitar can benefit from a professional setup to ensure that it performs at its best, small issues like sharp, unfinished fret edges and high string action may make a setup more or less a necessity for this Telecaster straight out of the box. Some players may also find its glossy neck finish a bit too grippy, but this is mostly a matter of personal preference and shouldn’t affect playability for the majority of guitarists. Still, if you’re open to a bit of initial maintenance and setup, the Classic Vibe ’50s Telecaster is built to sound and feel nearly identical to more expensive models like the Fender Player Telecaster, making it a fantastic way to enjoy one of music history’s most versatile and ubiquitous instruments on a budget. If a Stratocaster is more your style, consider the Squier Classic Vibe Stratocaster by Fender from the same product line.
Best Cheap Electric Guitars (around $150!)
Why it made the cut: The Little Martin LX1E is a convenient travel-sized acoustic guitar built from durable laminate wood and equipped with a built-in pickup for amplification.
The Little Martin LX1E’s compact frame, impressive unplugged volume, and easy-to-use electronics make it one of the best acoustic-electric guitars available under $500. As the most affordable acoustic-electric model in the legendary Martin company’s product line, the LX1E is a short-scale travel-friendly instrument composed primarily of a tough wooden fibreboard that’s as cost-effective as it is durable. The guitar features the same traditional solid spruce top found on the best full-sized acoustic guitars, like the Martin D-10E and D-18, which gives the LX1E outsize volume and projection performance for its relatively shallow body. A single 1/4-inch jack and a built-in Fishman pickup allow players to connect the guitar to any PA or amplifier and enjoy clearer and fuller amplified sound than can be achieved with a microphone.
Like other Martin guitars, the Little Martin LX1E comes with a non-standard truss rod, so you’ll need to purchase a specific wrench to make neck adjustments. Because of its small dimensions, the LX1E also lacks some of the round and open low-end resonance that’s typical of standard-sized acoustic guitars. Though its unplugged sound is bright and woody with plenty of projection, amplifying the LX1E by plugging it in is the best way for players to enjoy a more traditional and full bass response from the guitar. If you have a bit more to spend, the slightly larger body cavity and solid back and sides of the Martin 000Jr-10E deliver a similar unplugged sound with some added low-end presence. But if you’re on a budget, the Little Martin LX1E offers some of the best sound and performance available anywhere in the sub-$500 range.
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Why it made the cut: This short-scale bass from Squier has a classic and stylish design that’s comfortable to play and delivers a rich low-end thump that’s ideal for a wide range of musical styles.
The Squier Classic Vibe ’60s Mustang Bass is one of the best bass guitars under $500 thanks to its combination of superb build quality, punchy tone, and easy-to-play design. Its single split-coil pickup configuration is similar to that of the legendary Fender Precision Bass, delivering a comparable tonal range that’s appropriate for almost every musical style from rock to R&B. Like other basses in the Mustang product line, the Classic Vibe ’60s Mustang is a short-scale instrument, measuring in at 30 inches from nut to bridge. This smaller scale, combined with the neck’s C-shaped profile, gives the bass an accessible guitar-like feel in the hands that makes it easier to play than standard full-sized basses, especially for players with smaller hands. Despite its small size, the Classic Vibe ’60s Mustang Bass offers up plenty of beefy low-end and defined attack with excellent sustain and tuning stability thanks to its real bone nut and string-through bridge design.
Like other instruments in this price tier, the Classic Vibe ’60s Mustang Bass will perform and feel its best if it’s given a proper initial setup. This may involve neck and bridge adjustments, fret filing, and other small considerations that are overlooked on the production line. The bass may also be prone to buzzing audibly when players’ hands aren’t in contact with the strings, which may catch new owners off guard despite being a fairly common occurrence in the world of electric guitars. All in all, the Classic Vibe ’60s Mustang Bass is an incredible option for a punchy and straightforward tone, but If you’re looking for a wider palette of sound options, the Squier Classic Vibe ’70s Jazz Bass is a solid, similarly priced alternative to consider.
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Why it made the cut: The Epiphone Les Paul Player Pack is built around a dual-humbucker Les Paul Special-II electric guitar and includes all the accessories a beginner needs to get started.
Assembling all the mandatory accessories for an electric guitar can be a daunting task if you don’t know where to begin. This all-inclusive Player Pack from Epiphone includes everything you need to hit the ground running—including an amplifier, cable, strap, gig bag, and tuner—making it one of the best values on the market for beginning guitarists. The Epiphone Player Pack is built around the Les Paul Special-II, a solid body electric guitar with a dual-humbucker pickup configuration capable of a wide range of sounds suitable for rhythm and lead guitar. Like the Gibson Les Paul after which it’s modeled, the Epiphone Les Paul Special-II features a 24.75-inch scale that’s a little easier to play than the more common 25.5-inch scale found on guitars like the Fender Telecaster. This, combined with the neck’s flat 12-inch radius, make the Les Paul Special-II perfect for playing chords, basic lead lines, and getting acquainted with the instrument overall.
The star of this bundle is definitely the guitar itself—while the inclusion of an amp and
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Why it made the cut: This short-scale bass from Squier has a classic and stylish design that’s comfortable to play and delivers a rich low-end thump that’s ideal for a wide range of musical styles.
The Squier Classic Vibe ’60s Mustang Bass is one of the best bass guitars under $500 thanks to its combination of superb build quality, punchy tone, and easy-to-play design. Its single split-coil pickup configuration is similar to that of the legendary Fender Precision Bass, delivering a comparable tonal range that’s appropriate for almost every musical style from rock to R&B. Like other basses in the Mustang product line, the Classic Vibe ’60s Mustang is a short-scale instrument, measuring in at 30 inches from nut to bridge. This smaller scale, combined with the neck’s C-shaped profile, gives the bass an accessible guitar-like feel in the hands that makes it easier to play than standard full-sized basses, especially for players with smaller hands. Despite its small size, the Classic Vibe ’60s Mustang Bass offers up plenty of beefy low-end and defined attack with excellent sustain and tuning stability thanks to its real bone nut and string-through bridge design.
Like other instruments in this price tier, the Classic Vibe ’60s Mustang Bass will perform and feel its best if it’s given a proper initial setup. This may involve neck and bridge adjustments, fret filing, and other small considerations that are overlooked on the production line. The bass may also be prone to buzzing audibly when players’ hands aren’t in contact with the strings, which may catch new owners off guard despite being a fairly common occurrence in the world of electric guitars. All in all, the Classic Vibe ’60s Mustang Bass is an incredible option for a punchy and straightforward tone, but If you’re looking for a wider palette of sound options, the Squier Classic Vibe ’70s Jazz Bass is a solid, similarly priced alternative to consider.
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Why it made the cut: The Epiphone Les Paul Player Pack is built around a dual-humbucker Les Paul Special-II electric guitar and includes all the accessories a beginner needs to get started.
Assembling all the mandatory accessories for an electric guitar can be a daunting task if you don’t know where to begin. This all-inclusive Player Pack from Epiphone includes everything you need to hit the ground running—including an amplifier, cable, strap, gig bag, and tuner—making it one of the best values on the market for beginning guitarists. The Epiphone Player Pack is built around the Les Paul Special-II, a solid body electric guitar with a dual-humbucker pickup configuration capable of a wide range of sounds suitable for rhythm and lead guitar. Like the Gibson Les Paul after which it’s modeled, the Epiphone Les Paul Special-II features a 24.75-inch scale that’s a little easier to play than the more common 25.5-inch scale found on guitars like the Fender Telecaster. This, combined with the neck’s flat 12-inch radius, make the Les Paul Special-II perfect for playing chords, basic lead lines, and getting acquainted with the instrument overall.
The star of this bundle is definitely the guitar itself—while the inclusion of an amp and
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