Best Guitars Under $500 2024: for affordable prices

When looking for the best guitars under $500, you should consider how much money you want to spend on a new guitar. A budget of $500 is a good start, but it is not always necessary to spend that much. The most important aspect is that your guitar is fun, easy and comfortable to play.

As I looked for a great guitar that cost less than $500, I was amazed at how many choices there were. When I think about what the choices were like just 15 years ago, I remember how few and lacking they were. Things have changed for the better, thank goodness. Because of names like PRS, Epiphone, Gretsch, Ibanez, and more, guitar fans like me now have a lot of great choices. These guitars are great for beginners, as backup instruments, or even as the main instrument for live shows because they can be used in so many ways.

You can look forward to sturdy, durable guitars that are well made and sound great. In reality, the line between flagship electric guitars, which are often made in the USA, and these cheaper electric guitars has become increasingly blurred, so many people can’t tell the difference in a blind test. The quality of cheap electric guitars has improved over time, and you can now buy a good, durable electric guitar for less than $500. Below we have listed the best guitars under $500.

Check the list of best Guitars under $500

Epiphone SG Standard

The SG is one of the most recognisable rock guitars. With a lengthy list of legendary musicians such as Tony Iommi, Angus Young, and Derek Trucks to mention a few, it’s no wonder that the SG has made it onto this list of the best electric guitars under £500. It’s actually more popular than the Les Paul. The SG is well renowned for its punchy, mid-heavy tone, which can generate some strong, cutting gain tones. When you turn things down a notch, it can produce some great clean tones – but we’re thinking you’re not interested in an SG for the clean tones. This instrument is a solid favourite in the worlds of rock, blues, and metal, and we can see why after spending some time with this Epiphone SG.

Although it is not a full-fledged Gibson model, the tones produced by this guitar are indistinguishable. The current ‘Inspired by Gibson’ line from Epiphone is extremely excellent, and when you realise that this guitar costs around one-third the price of the identical US-made model, the degree of finish and general feel of the Epiphone model becomes even more incredible. If you can’t bring yourself to pay four figures on an SG, this could be the vehicle for you. Overall, this is one of the Best Guitars under $500 that you can buy right now.

Ibanez AZES31

Ibanez’s AZ series has been a best-seller in recent years, with musicians from all walks of life preferring it to the other slew of super-Strat-style guitars on the market. We were overjoyed to learn that Ibanez was releasing a more affordable version – and it does not disappoint. The scale length also contributes to the wonderful playability. 25″ lies in a sort of ‘golidlocks zone’ middle ground, with enough string tension to really dig in for those percussive funk tones, and enough movement to master string bending and legato runs. We know we’re extolling the virtues of this guitar, but it’s for good reason: it’s fantastic.

Long story short, the AZES31 is one of the best affordable electric guitars available, and we can confidently declare that it is the best guitar under $300 available today. This guitar can do everything you’d expect a Strat-style guitar to accomplish. Tonally, the poplar body, maple neck, and jatoba fingerboard give this guitar the snappy, sweet top-end you’d expect from a bolt-on double cutaway, and the lightweight materials make the instrument resonant and pleasant to play for extended periods of time. Overall, it is one of the Best Guitars under $500 that you can buy.

Yamaha Revstar Element RSE20

The Yamaha Revstar Element RSE20 is the entry-level model in Yamaha’s current Revstar series, and it’s a terrific guitar for everyone from beginners to working performers. It had a lightweight chambered mahogany body that we found to be quite comfortable and ergonomically sound. The overall design was well thought out and facilitated excellent playability whether seated or standing.

We loved the Swift Blue finish; it stood out beautifully against the off white racing stripes. The set mahogany neck had an all new Revstar profile. It was a medium thickness C shape that was fantastic to play. Fast, comfortable, and with the deep double cutaway, it provided excellent upper fretboard access. Still, it is one of the Best Guitars under $500 that you can consider.

Squier Affinity Stratocaster FMT HSS

The Fender Strat has long been regarded as one of the most versatile guitars of all time, and when a high-output ceramic humbucker is added to the mix, it becomes even more so. The Affinity series may be the entry-level point into Fender’s diverse portfolio, but it surely does not skimp on quality.

With an appealing flame maple top, a slim and comfortable C-shaped neck, and the distinctive huge 70s headstock, it’s difficult to believe this guitar costs less than $500! The Squier humbucker and single-coil neck and middle pickups are the ace up this budget-friendly Strat’s sleeve. With a single flip of the 5-way selector switch, you may achieve any tone imaginable. Easily one of the Best Guitars under $500 available on the market.

Gretsch G2622 Streamliner

Sometimes all you need is a hollowbody guitar. The deep, full-bodied sound of these huge guitars is just what the doctor ordered for some applications, and the Gretsch G2622 Streamliner is a highly practical option for those trying to keep costs down. Since its debut in 2016, the Streamliner series has grown in popularity, with the G2622 being one of our personal favourites. With just one look, you can tell this instrument has all the classic stylings you’d expect from the famed guitar builder. Nonetheless, it has the tone, in our opinion. Thus, this product is one of the Best Guitars under $500 available right now.

The two Broad’Tron pickups provide this sound, which has a somewhat higher power than the FilterTrons used in classic Gretsch models. As much as we adore Gretsch, its entirely hollow guitars may get a little vocal at high volumes. Gretsch has placed a centre block at the heart of this instrument to counteract this and make the guitar more appealing to modern players. This not only reduces feedback at high volumes, but it also changes the overall tone, resulting in more middle punch and a less boomy low-end – something we definitely enjoy.

Kramer Baretta Special

Kramer is one of the iconic guitar brands we’re glad to see back on the market. Kramer dominated the industry in the 1980s, producing super-Strat-style guitars for nearly every sort of player. The Baretta has long been a favourite of ours, so seeing a’special’ edition produced for under $200 is something we don’t want to pass up. The mahogany body, paired with the maple neck and fingerboard, results in a guitar that is both tonally and physically well-balanced. The single bridge humbucker is bright, punchy, and quite in-your-face, as you’d expect from a guitar of this kind, but the wood works beautifully in gently softening that sound.

However, this guitar was never meant to be tamed. In our opinion, the tuners are sturdy and offer exactly the appropriate amount of resistance. You never want them to feel too loose or as if your tuning is going to slip, so that robust feeling was quite reassuring. It also has a Kramer-style tremolo, and while you won’t get many divebombs out of it, it’ll do pretty much everything else. Currently, this is one of the Best Guitars under $500 that you can buy right now.


When looking for the best guitars under $500, think about how much money you want to spend on a new guitar. Setting a budget of $500 is a wonderful place to start, but it’s not always necessary to spend that much. The most critical aspect is that your guitar is enjoyable, simple, and comfortable to play. Any other part of your instrument – hardware, pickups, controls, and all electrics – may be replaced, updated, or enhanced at any moment, but if you go so far as to switch bodies or necks, you might as well buy a new guitar.

Editorial Staff
Editorial Staff
The Bollyinside editorial staff is made up of tech experts with more than 10 years of experience Led by Sumit Chauhan. We started in 2014 and now Bollyinside is a leading tech resource, offering everything from product reviews and tech guides to marketing tips. Think of us as your go-to tech encyclopedia!


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