7 Best Electric Guitars Under $500 of 2024

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There are few experiences as exciting as shopping for a new guitar — but, of course, instruments can get very expensive, very fast.

Budget electric guitars may be frowned upon by elite guitarists, but I can assure you that there are quite a few models out there that are simply mind-blowing. An affordable guitar will open your eyes to a whole new dimension to tone-crafting, all while keeping a close eye on your budget.

In this article, I've compiled a short list of the seven best electric guitars under 500 dollars, ranging from versatile classics to experimental 8-string axes. I also included a short buyer's guide to help you pick out the best option for you if you're just starting out!

My top pick is, of course, the Squier Classic Vibe '50s Telecaster — a timeless guitar that blends affordability, versatility, and spectacular tones into a single instrument.

The right budget electric guitar will open up a whole new world of possibilities for you, no matter if you're a beginner player or a seasoned shredding veteran. Let's find the perfect one for you!

Best Electric Guitars Under $500

SPECS

• Pickups: 2 single-coils
• Materials: Pine body, maple neck
• Number of frets: 21 frets

The Squier Classic Vibe '50s Telecaster is just unbeatable. Coming in at just under 500 dollars, this timeless model can handle everything from country, twangy tones to noisy, almost shoegaze-like sounds. There may just not be a more iconic guitar than the Telecaster — and boy does this reissue deliver.

Packing in two Fender-designed alnico single-coil pickups, the Squier Classic Vibe Telecaster has a distinctive punchy, yet versatile sound. Of course, the classic three-way Telecaster pickup selector is included, as well as one master volume knob and one master tone knob.

The Squier Classic Tele has a pine body with a classic gloss polyurethane finish and a maple neck and fingerboard. And if you love that old-school aesthetic, don't worry — the timeless vintage-style tuners are also included.

All in all, the Squier Classic Vibe '50s Telecaster is the best electric guitar under 500 dollars, blending together versatility, affordability, and quality. If you're looking for that vintage experience with all the conveniences of modern guitars, then you just can't go wrong with this one.

What Could Be Improved

• Not so good for metal

SPECS

• Pickups: 2 humbuckers
• Materials: Poplar body, maple neck
• Number of frets: 22 frets

Now, even when we're talking about affordable guitars, few instruments go below the 200-dollar barrier. But there's still hope for the tightest of budgets! The Jackson Dinky JS11 is, despite its rather silly name, an incredibly solid choice for any guitarist looking for a true bang for their buck.

Of course, we all know what usually comes with cheap electric guitars: rough finishes, lackluster tones, and problematic electronics. But that's not the case here — the Jackson JS11 can dish out massive tones thanks to its top-notch humbuckers and basswood body.

Its 22 frets are carefully designed to allow for the fastest of shredders to take the world in a single legato phrase. The resonant wood also allows for gigantic sustain, making it a fantastic choice for rhythm guitarists as well.

The Jackson Dinky JS11 challenges everything we know about guitars. And, as you may have noticed, the ultra-modern aesthetic also gives it that extra clean touch when it comes to pure looks.

What Could Be Improved

• Humbuckers can feel limiting

SPECS

• Pickups: 2 single-coils, 1 humbucker
• Materials: Mahogany body, maple neck
• Number of frets: 22 frets

The discussion regarding humbuckers or single-coil pickups is almost as old as electric guitars themselves. But some modern manufacturers have decided to end this debate once and for all by blending both types into a single guitar. And that's where the Yamaha PAC012DLX Pacifica comes in.

Equipped with one custom ceramic humbucker in the bridge pickup and two single-coils in the middle and neck configurations, the PAC012DLX is ready to take on any tone. From clean, ultra-sharp highs to gritty low-end, this absolute monster can handle everything you can imagine!

The C-shaped maple neck features a smooth rosewood fingerboard that's responsive for both rhythm and lead playing. The body is made from agathis — a somewhat rare wood that's lightweight yet resonant.

In short, the Yamaha PAC012DLX Pacifica is a perfect choice for anyone who's after something even more versatile than a Telecaster. And did I mention the ridiculously low price tag?

What Could Be Improved

• Ceramic pickups

SPECS

• Pickups: 2 single-coils
• Materials: Basswood body, maple neck
• Number of frets: 21 frets

If you're a fan of that alternative, noisy, shoegaze-style tone behind pretty much every early 90s record, then you're unlikely to come across a better option than the Squier J Mascis Signature Jazzmaster.

Modeled after the requests and playing style of J Mascis himself, the Squier J Mascis Signature Jazzmaster pays tribute to the feedback-heavy sound of Dinosaur Jr. The dual single-coil pickups give it a dense midrange, but its specialized lead and rhythm circuits allow you to exhaustively sculpt your sound.

The Adjusto-Matic bridge features a vintage-style tremolo, while the maple neck has 21 jumbo frets that are built to last. Plus, the satin finish and slightly wider nut give it that extra professional touch.

What Could Be Improved

• Pickup configurations can get confusing

SPECS

• Pickups: 2 humbuckers, 1 single-coil
• Materials: Basswood body, maple neck
• Number of frets: 22 frets

The Ibanez Gio GRX70QA is made pretty much exclusively for shredding lovers. And I'm not just talking about looks here — its maple neck is as smooth as it gets, and the medium-sized frets let you blend lead play and chords seamlessly.

Like many other modern guitars, the Ibanez Gio GRX70QA uses two humbuckers and one single-coil pickup with a 5-way blade switch. The body is made almost entirely from basswood, giving it a rich low-end while staying resonant in the mid- and high-range.

But maybe the best part of the Gio GRX70QA is the tremolo bar, which can handle anything from subtle vibrato to full-on dive bombs. Despite its affordable price, the Ibanez Gio GRX70QA is a top pick for anyone who loves metal and other heavy styles.

What Could Be Improved

• May not be the best for light genres

SPECS

• Pickups: 2 single-coils
• Materials: Maple body, mahogany neck
• Number of frets: 22 frets

Let's face it: hollowbodies are expensive guitars. Luckily, Epiphone has tackled this issue with its iconic Epiphone Casino Worn — a legendary model that is as elegant as it sounds. From Keith Richards to The Beatles, pretty much every rock musician in the 60s used one of these at some point.

Featuring laminated maple back, top, and sides, the Casino Worn is made to last. The neck is made from mahogany, while the Indian laurel fretboard ensures maximum playing comfort. And, of course, the olive and ebony colors make for a beautiful, yet sober aesthetic.

The pickups are the iconic P-90s, which have a long history of use across rock music history. Much like the Epiphone Les Paul, the Epiphone Casino Worn features three pickup configurations and two knobs for tone and two for volume.

What Could Be Improved

• Can cause a lot of feedback

SPECS

• Pickups: 2 humbuckers
• Materials: Meranti body, maple/walnut neck
• Number of frets: 24 frets

Specialized instruments, such as 7-string guitars, can get very expensive very quickly. And that's where the Ibanez RG Standard RG8 really shines, providing eight strings at a very affordable price.

Featuring an otherworldly 27-inch scale, the Ibanez RG Standard RG8 can handle drop tunings like a king. Like many other modern metal guitars, the RG8 sports two IBZ-8 humbuckers that are set on giving you the deepest lows you can imagine.

The string-through-body bridge technology also allows you to tune your strings to pretty much anything you can imagine. In fact, standard tuning is almost completely out of the question — once you try an 8-string alternative tuning, you just can't go back.

What Could Be Improved

• Can be a lot for beginners

Best Electric Guitars Under $500 Buyer's Guide

Guitars are complicated instruments, and getting a new one can be nothing short of finding a needle in a haystack. There are dozens of factors to consider while also keeping an eye on your budget — a task seemingly impossible if you're a beginner.

But fret not (pun intended)! I compiled a short buyer's guide so you can take a quick look at the most important aspects of getting budget guitars:

Pickup Configuration

Maybe the most important aspect of an electric guitar is which (and how many) pickups it uses. While a lot of guitarists will argue that materials and strings also influence tone, there's no denying that pickup configuration is the most defining factor.

Fundamentally, there are two types of pickups: single-coil pickups and humbuckers.

Single coils are maybe the most common in rock music, as they're cheaper to manufacture and generally more versatile. They have a clear bright sound with a twangy high-end, making them a fantastic choice for expressive playing.

Humbuckers, on the other hand, are somewhat more expensive as they're made out of two single coils bound together. This gives them a fatter tone, full of warm low-end, and gritty mids. However, this also makes them a bit less appropriate for punchy tones.

So which one is right for you? Well, there's no sure-proof answer — you'll have to experiment a bit.

Body and Fingerboard Materials

The type of wood your guitar is made out of is a crucial aspect in determining its sound, durability, and overall handling. Of course, some guitarists will argue that materials aren't actually that important — but it can't hurt to know, right?

There are hundreds of guides online describing each type of wood available, but the truth is that you'll probably only come across a few while shopping. In terms of body woods, these are the most common materials:

• Alder
• Basswood
• Mahogany
• Maple
• Rosewood
• Walnut

Each of these will have different tonal properties. For example, maple is known for being extremely bright and punchy, while a mahogany body will be more resonant on the low end.

But that's not all! The fingerboard material may not be as important when it comes to tone, but it will make a gigantic difference in fretting smoothness. Here are the most common fingerboard materials:

• Ebony
• Maple
• Rosewood

As with pickups, there isn't a type of wood that will work for everybody! I recommend you take a closer look at materials before buying your next guitar and experiment as much as you can!

Solid vs Semi Hollow vs Hollow Bodies

Now, you might have seen some electric guitars that have a small f-shaped hole on the top. Despite what many beginner guitarists might think, this isn't just for looks — it actually determines which type of body that guitar has.

There are three types of guitar bodies: solid, semi-hollow, and hollow.

Les Pauls, Stratocasters, and Telecasters are all great examples of solid-body guitars, which are by far the most common electric guitars on the market today. Solid bodies are the most affordable and provide a well-rounded tone that's fantastic for pretty much any music style.

Hollow bodies, on the other hand, are more akin to acoustic guitars, as they provide fantastic sustain and sound great when unplugged. They have a warm, wholesome tone — but they're more prone to feedback while playing with distortion.

Semi-hollow guitars are somewhat of a middle ground between the two, as they feature a large hollow body with a solid center block in the middle. Unlike hollow guitars, semi-hollows can handle a lot of distortion, but sacrifice a bit of tone for it.

Fret Format

Frets are hardly talked about when it comes to budget guitars, but they're an absolutely crucial factor when it comes to playing experience.

Much like guitar strings, frets are measured in a special unit that represents a 1/1000th of an inch. Of course, this means that there can be dozens of different sizes — but there are five that are much more common than the rest:

• 6230 — rather small and narrow frets, often used in vintage guitars.
• 6105 — possibly the most common frets, these are about 0.010" wider and higher than vintage ones.
• 6100 — also known as "jumbo frets", these are some of the largest in the market.
• 6150 — "vintage jumbo" frets are smaller than jumbo frets but just as wide.
• 6130 — known as "medium jumbo", these sit somewhere between 6105s and 6100s.

As with all things related to guitar, there's no one-fits-all solution to frets! But if you're just starting out, I recommend you get either 6105s or 6100s on your first guitar.

Frequently Asked Questions (FAQs)

Are cheap electric guitars okay?

Unfortunately, the guitar world is filled to the brim with elitist players who claim that only the most expensive guitars are worth your money. But if that were the case, then why would players like Kurt Cobain or Mike Rutherford go on stage with budget guitars?

The truth is that a budget guitar can be as versatile as a high-end one if you know how to play it properly. As any experienced guitarist will tell you, in the end, the tone is in your fingers — and while a top-notch guitar can make it easier, practicing is the name of the game.

Are cheap guitars harder to play?

Not necessarily. It is true that some budget guitars can feel somewhat... rough to play, but it all comes down to getting used to that particular instrument. For example, a fingerboard's material can significantly change how the guitar feels, but it shouldn't feel like a limitation.

But remember that sometimes budget guitars can be sold without being properly set up! If you feel like the action in your new guitar is a bit off, make sure you take it to a luthier for a full check-up.

Is it OK to learn electric guitar first?

Yes! It's ok to start out with an electric guitar instead of an acoustic or a classical.

Over the course of your guitar-playing career, you'll probably find that most people learned with an acoustic at first. This is usually because acoustics are easier to handle due to the lack of amplification and the lower volume — but not necessarily because it's better!

Which electric guitar is best for beginners?

There isn't a set answer that will work for everyone. The truth behind beginner guitars is that the best one for you will be the one that you like the most and inspires you to pick it up.

But if you're completely lost on where to start, I recommend you get something like the Squier Classic Vibe '50s Telecaster. A Telecaster is an incredibly versatile guitar, while also being very smooth to play and carry around.

Verdict

Finding the perfect budget guitar for you can be as exciting as it can be challenging. There are dozens of factors to consider, such as pickups, wood types, body format, and fret size (just to name a few). But don't let that take away from your experience!

Shopping for a new guitar should be a thrilling and enjoyable experience — even if you're just starting out. If you don't know where to start, I recommend you get our top pick: the Squier Classic Vibe '50s Telecaster. This timeless take on the Tele is a fantastic guitar for pretty much everyone, providing versatility and top-notch tones at an affordable price.

But if you're running on a very tight budget, then you might want to take a look at the Jackson Dinky JS11. While it may not be as classic as the Squier Classic Vibe Telecaster, the JS11 is still a fantastic choice if you don't mind the more... modern take on guitar playing.