Buying an electric guitar shouldn’t always have to burn a hole in your pocket. While having a bigger budget certainly gives you more options to choose from, affordable entry-level guitars can be a good starting point for beginners, plus they can serve as a backup instrument once you have upgraded to a more high-end guitar. Most inexpensive guitars also come in budget-friendly packages that include other equipment such as cables and amplifiers, which means you get a great deal for much less.
While cheaper electric guitars may not be able to completely emulate the sound and tone of more expensive guitars, many of them come pretty close.
You’ll be able to feel like a rockstar with any these electric guitars under $500—plus you’ll even have a couple of bucks to spare for effects and other add-ons.
What are the Best Electric Guitars Under $500?
1. Squier Classic Vibe Stratocaster ‘60s Electric Guitar (Shop Now)
The Squier Classic Vibe ‘60s Stratocaster features Alnico V single-coil pickups that have more “bite” compared to humbucker pickups. It features a five-way pickup switch, which enables players to tweak and experiment by creating different tonal variations, as well as three control dials—one for the Master Volume and two for the Neck and Middle Pickup Tones.
If you’re a beginner, here’s what you need to know about this guitar—its rosewood fingerboard makes it easy on the fingers by offering a softer touch on the frets, and its modern C-shaped neck in the cross section and lightweight body with a classic Strat cut will make long sessions more comfortable for your fingers and body, whether you’re standing or sitting as you play.
Key Specifications:
- 21 Medium Jumbo Frets, 25.5-inch Scale Length
- Alder Body with Gloss Polyester Finish
- Maple Neck
- Rosewood Fingerboard
- Chrome Hardware
- 4-Ply Tortoiseshell Pickguard
- Custom Vintage Style Single-Coil Stratocaster: Neck, Middle, and Bridge Pickups
- SSS Pickup Configuration
- 5-Position Blade Switch and 3 Control Knobs
- Vintage-Style Tremolo Arm
2. Gretsch G5445T Electromatic Double Jet Electric Guitar, (Shop Now)
This double jet-shaped Gretsch Electromatic Double Jet Electric Guitar has a lightweight chambered basswood body that helps produce crisp treble and lighter tones. And with its two Blacktop Filter’Tron pickups, you get the definitive tone of Gretsch’s classic humbucker pickup design for much thicker sounds that are perfect for both clean tones and fuzzy overdrives. The G5435T Electromatic Pro Jet also makes playing licks smoother with its smooth, rosewood fingerboard, so amateurs can play like a pro on this sleek and budget-friendly electric guitar.
Key Specifications:
- 22 Medium Jumbo Frets, 24.6-inch Scale Length
- Chambered Basswood Body with Gloss Polyurethane and Gloss Polyester Finishes
- Maple Neck
- Rosewood Fingerboard
- Chrome Hardware
- Black Top Filter’Tron Neck and Bridge Pickups
- 3-Position Blade Switch and 4 Control Knobs
3. Squier Vintage Modified ‘72 Telecaster Thinline (Shop Now)
The Squier Vintage Modified ‘72 Telecaster Thinline is an updated take on the classic Telecaster Thinline that gives you the look and sound of a Fender for the affordable price of a Squier. It has a semi-hollow body that offers just the right amount of resonance and warmth, a fretboard that is perfectly optimized for versatility and playability, and Wide Range humbucking pickups that help produce warm and thick (yet highly detailed) sounds without any unwanted hum and buzz. Its strings-thru-body bridge supports prolonged vibrations for increased sustain while its six individual saddles allow you to accurately adjust each string for precise intonation.
Indie and alternative rock guitarists will love its slightly hazy midrange tone, which makes this guitar great for both fingerpicking and distorted power chords.
Key Specifications:
- 21 Medium Jumbo Frets, 25.5-inch Scale Length
- Semi-Hollow Ash Body with Gloss Polyester Finish
- Maple Neck and Fingerboard
- Chrome Hardware
- 4-Ply White Pearloid Pickguard
- Wide Range Humbucking Neck and Bridge Pickups
- HH Pickup Configuration
- 3-Position Blade Switch and 2 Control Knobs
- Original Barrel Switch Tip
4. Peavey Raptor Plus Electric Guitar (Shop Now)
The Peavey Raptor Plus allows beginner players to enjoy advanced tech features at a very low price. It features two types of pickups—a humbucker and a pair of single-coil pickups—to allow users to experiment with a wider range of tones.
Users will also enjoy the raging vibrato added by the integrated Powerbend tremolo bridge and the ensured tuning stability thanks to its 6-in-a-line headstock with ergonomic tuner placement and straight string pull construction for tuning stability. Aside from all these advanced features, the stylish Peavey Raptor is designed for comfort and balance in playability.
Key Specifications:
- 22 Medium Jumbo Frets, 25.5-inch Scale Length
- Solid Basswood Body
- Maple Neck
- Rosewood Fingerboard
- Chrome Hardware
- 1 Humbucker Bridge and 2 Ceramic Single-Coil Pickups
- 5-Position Blade Switch and 2 Control Knobs
- Tremolo Bridge
5. Ibanez Paul Gilbert Signature PGMM31 (Shop Now)
The Paul Gilbert Signature PGMM31 is a compact guitar that’s good for younger players, novice guitarists, and on-the-go musicians who need a lighter instrument for travel. Its solid poplar body and maple neck construction contribute to the guitar’s ability to sustain ringing tones. Playing comfort is also ensured with its ideal, low tension string gauge of .010 to .046.
This affordable electric guitar also features dual Infinity humbucking pickups to allow users to shred loud and aggressive tones, and its immediate and aggressive attack, tight low end, and thick midrange only increase its appeal to hard-rocking players.
Key Specifications:
- 24 Medium Frets, 22.2-inch Scale Length
- Solid Poplar Body
- Maple Neck and Fretboard
- Black Hardware
- 2 Infinity R Humbucking Pickups
- 3-Position Blade Switch and 1 Master Volume Control
- Fixed Bridge
6. Luna Athena Semi-Hollow Body Electric Guitar (Shop Now)
The Luna Athena produces the twang you’re looking for to create your own blues, rock, alternative, and rockabilly music. It features dual humbucker pickups and a sturdy, semi-hollow maple body for clear and tight tones that are perfect for such unique genres and playing styles. It’s also designed with a C-shaped mahogany neck for easier playing and fingerboard navigation.
With its slim and lightweight frame, this stylish yet affordably priced electric guitar is great for smaller guitarists.
Key Specifications:
- 22 Jumbo Frets, 24.75-inch Scale Length
- Maple Semi-Hollow Body with Trans Cherry Gloss Finish
- Mahogany C-Shaped Neck
- Rosewood Fretboard
- Gold Satin Hardware
- Humbucker Neck and Bridge Pickups
- 3-Position Blade Switch and 4 Control Knobs
- Tune-O-Matic Bridge
- Dual-Action Truss Rod
7. Dean Custom 350 Floyd Electric Guitar (Shop Now)
This beautifully crafted basswood Dean Custom 350 Floyd Electric Guitar allows you to play all kinds of music that you love. Its high-output DMT humbucking pickups make it extremely versatile as it helps capture rocking tones and clearer, more defined sounds for virtually every musical genre. And even at such a low price, you already get a Floyd Rose Special vibrato bridge and a locking nut to allow you to freely produce hard-rocking vibrato without worrying about your strings going out of tune.
Key Specifications:
- 24 Jumbo Frets, 25.51-inch Scale Length
- Solid Basswood Body with Trans Red Finish
- Maple C-Shaped Neck
- Rosewood Fretboard
- Black Chrome Hardware
- DMT Design Neck and Bridge Pickups
- 3-Position Blade Switch and 2 Control Knobs
- Floyd Rose Special Tremolo Bridge
- Dual-Action Truss Rod
8. Dean Vendetta XM Tremolo (Shop Now)
Last but not the least, we have the Vendetta XM Tremolo guitar, whose features can satisfy both beginners and experienced players. Its two DMT pickups offer modern and more defined low-end and midrange tones with more than enough “bite,” while the vintage tremolo bridge lets you complement your performance with modulated sustains.
To expand the pickup tones even more, its 3-way pickup toggle (for the bridge, neck, or a combination of both) can do just that. This stylish and lightweight guitar comes in Basswood and Paulownia, which is a great substitute for mahogany.
Key Specifications:
- 24 Medium Jumbo Frets, 25.5-inch Scale Length
- Solid Basswood / Paulownia Body, Vendetta Type
- Maple C-Shaped Neck
- Rosewood Fretboard with Pearl Dot Inlays
- DMT Humbucker Neck and Bridge Pickups
- 3-Position Toggle Switch and 2 Control Knobs
- Vintage Tremolo Bridge
- Dual-Action Truss Rod
Things to Consider When Buying Your First Electric Guitar
This list intends to help amateurs who are interested in buying their first electric guitar or experienced players who want a newer axe to add to their collection.
If you’re just starting out, you’ll first need to know what to buy and what to look for in an electric guitar before heading to the music store.
Here are a couple of things to consider if you’re a first-time buyer:
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- Personal Taste – Obviously, for you to be genuinely happy about your choice, the guitar you choose has to look good to you.
- Size & Weight – Make sure to choose a guitar that is comfortable for you to hold and carry, as the resulting discomfort from an overlarge or heavy guitar can negatively affect your performance.
- Orientation – Are you right-handed or left-handed? Don’t forget to select a guitar that has the correct orientation for your needs.
- String Action – Some strings are too high and hard to play, so make sure to check them when you hold the guitar.
- Accessories – Don’t forget to consider the accessories that will go with your chosen guitar, like an amplifier, electric tuner, capo, picks, and a guitar bag.
- Starter Pack – Beginners can get an all-in-one package that includes pretty much everything needed to get started, and at a much lower total price.
Keep in mind that you’ll eventually want to invest in other items after you buy your your first guitar. You’ll want accessories such as different guitar effects and better amplifiers. If you have the means to splurge, feel free to spend a lot of money on your musical gear, but don’t go for high-end guitars and equipment in hopes of them making you a better guitar player.
Remember, good guitar playing is entirely up to your skill, not your equipment.
