12 Best Electric Guitars Under $500 Review

Basically knowing your budget is knowing the guitar you are going to have. You set expectations on guitars based on budget that will normally lead you on guitars that you should focus more, and to take a good look at. However, it is still hard to tell whether a specific price point is enough to guarantee anything or a sweet spot, because realistically at the end of the day, we play what we can afford, and everyone has an opinion if a guitar is good or not whatever the cost.

I think it is fair to say that a big majority of electric guitars these days has a place and are considerably well built to deliver impressive sounds. Factories that makes these guitars for well-known brands when they outsource are now also modern. Using computer controlled CNC router machines that handles most of the precise cutting of wood and the hardware components used on making them are now also pretty solid to deliver classic and modern tones for player to enjoy practicing and accomplish things on top of the stage.

Affordable guitars under the five hundred dollar is just at the tip of the iceberg. To know how really good they are is to experience playing them. Most of all, if the guitarist is fantastically skilled at playing and know his or her way on taking good care of the instrument, agreeably price of the guitar won’t even anymore matter.


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Yamaha Revstar RS320

Yamaha Revstar RS320
  • Double cutaway nato body with black pickguard in different color finishes to choose from
  • Comfortable thin profile set-in neck made of nato
  • 22 medium jumbo rosewood fingerboard marked by inlay dots
  • Set of chrome die-cast tuning machines
  • Tune-o-Matic bridge with Stop-Bar tail-piece
  • Ceramic YGD humbuckers placed on the neck and bridge controlled by a 3-way pick-up switch, master volume and tone

Aside from the Pacifica PAC012 and PAC112 of Yamaha, another well received guitar to consider from this brand is the Yamaha Revstar RS320. The guitar’s design is somewhat similar to the SG model of Epiphone and Gibson only with shorter horns and a belly cut for comfort. The look is something to think about when choosing this guitar because not all will like the lines, but if it appeals to you, this guitar can cover all your needs sound wise, comfort and price.

The double cutaway guitar body of the Revstar RS320 is carved out in nato wood in assortment of solid color finishes with a scratch plate. It has a thin profile set-in neck for fast action made also using nato wood with 22 medium jumbo rosewood fingerboard marked by inlay dots.

Unlike the Yamaha RS420 with alnico V pick-ups, delivering the high-output sound for the RS320 are ceramic YGD humbuckers placed on the neck and bridge controlled by a 3-way pick-up switch, master volume and tone. Keeping the guitar in perfect pitch is Yamaha’s version of Tune-o-Matic bridge with Stop-Bar tail-piece and die-cast tuners.


Ibanez RG Series RG470

Ibanez RG Series RG470
  • Double cutaway superstrat designed ash body
  • Legendary comfortable Wizard III maple neck
  • 24 jumbo size frets maple fingerboard accented by black inlay dots
  • Set of die-cast tuners in cosmo black
  • Locking tremolo bridge system
  • Quantum passive ceramic humbucker pick-ups for the neck, passive alnico on the middle and passive ceramic humbucker pick-ups for the bridge controlled by master volume, tone and 5-position switch blade

Ibanez is a Japanese brand that makes Superstrat guitars which are esteemed for fast play. Their guitars are equipped with slim tapered neck called wizard neck and some of the models has a floating tremolo system bridge with locking nut for guitar players who wants to incorporate huge divebombs and pulls on the way they play.

The Ibanez RG470 has a contoured double cutaway body made of ash in a number of finish players can choose from. It has Wizard III maple neck bolt-on to the body using four screws then top of by a 24 jumbo frets maple fingerboard with black dot inlays. Hardware in placed are cosmo black floating tremolo bridge system with locking nut and chrome tuners.

Sound is produce by passive ceramic Quantum humbucker neck and bridge pick-ups controlled by a 5-way switch blade for pick-up selection, master volume and master tone. This guitar is an evolution of the classic S-type guitars that we are very familiar of and will impress players on any levels with the pick-ups it uses, hardware and modern Superstrat body & neck design for a totally new experience in playing.


ESP LTD EC-256FM

ESP LTD EC-256FM
  • Single cutaway body made of mahogany with a scalloped back and maple veneer top
  • Thin U-shape set-neck made of 3-piece mahogany
  • Blackwood or jatoba 22 extra jumbo frets fingerboard
  • Set of chorme finished LTD manufactured tuners
  • Tom & Tailpiece bridge system
  • High-output ESP Designed LH-150 humbucker pick-ups on the neck and bridge controlled by 3-way toggle switch, 2 volume knobs and a push/pull coil tap tone control

Guitars made by ESP LTD became prominent on the thrash metal seen of the 80’s. Signing in artist from well-known bands like Metallica, Slayer, Anthrax and Megadeth etc. They offer a long list of good guitars ranging in prices with a screaming rocking sound suited for musicians who is looking for an affordable go to guitar.

ESP LTD EC-256FM guitar has a mahogany LP body design with archtop in flamed maple veneer finish. The set neck is made from 3-piece mahogany with thin U-shape profile top of by a blackwood or jatoba fingerboard having 22 extra jumbo fret wires. Hardware like the seto of tuners, and Tom & Tailpiece bridge are all in chrome manufactured by ESP LTD.

Powering the guitars are ESP Designed LH-150 humbuckers placed on the neck and bridge controlled by 3-way toggle switch for pick-up selection, 2 volume knobs for each pick-ups and a master tone. Overall, the EC256FM from ESP LTD is  great piece of guitar with the looks and sound that most guitarist will enjoy playing with on gigs and adding to their existing guitar collection. As a beginner guitar, this is one of the best reasonably priced LP guitar to learn well and to make them start playing in no time.


Schecter Omen Extreme-FR

Schecter Omen Extreme-FR
  • Superstrat arch top body design constructed using mahogany with a quilted-maple veneer top
  • Thin C-profile neck is bolt-on made in maple
  • 24 extra jumbo fret rosewood fingerboard garnished in Abalone & Pearloid Vector
  • Set of Schecter designed tuners with vector inlays
  • Floyd Rose Special tremolo bridge with a locking nut in black chrome finish
  • Schecter Designed Diamond Plus humbucker pick-ups placed on the neck and bridge controlled by a 3-way toggle switch, 2 volume knobs and a push/pull tone knob

The Schecter brand is also owned by Hisatake Shibuya of Japan, founder of ESP LTD guitars. Schecter like ESP also first started selling quality replacement parts to be use on other guitars. As the brand became more famous and successful because of these parts, it later on transitioned on making their own line of guitars. Even though both brand are owned by the same person, the guitars Schecter makes has a distinctive look and feel away from ESP.

The Schecter Omen Extreme FR has a mahogany body with an arched top made of quilted maple that comes in different color finishes without a pickguard. It has a bolt-on neck crafted in maple top of by 24 XJ frets rosewood fingerboard with vector inlays as garnish. Schecter design tuners and Floyd Rose Special bridge with locking nut are placed to take care of the tuning, string height and intonation.

Schecter designed Diamond Plus pick-ups are equipped on the neck and bridge controlled by a 3-way toggle switch for pick-up selection, two volume and a push/pull tone knobs. Out of the box this guitar lets you go out there and play. The guitar’s awesome design is uniquely well balance complimented with the top finish and floating tremolo to execute huge divebombs and aggressive pulls unlike no other guitars can.


Squier Classic Vibe 50s Stratocaster

Squier Classic Vibe 50s Stratocaster
  • Made of pine, alder or basswood coated in different color gloss polyurethane finishes to choose from
  • Bolt-on C-profile neck in vintage tint gloss finish
  • 21 medium jumbo size maple fingerboard marked with black inlay dots
  • Vintage-Style tuning machines in chrome
  • 6-Saddle Vintage-Style Synchronized Bridge with Tremolo for vibrato effect
  • Custom Vintage-Style Alnico III Single-Coil Strat pick-ups on the neck, middle and bridge controlled by a 5-way switch blade, master volume and a two tone knobs

Squier is still Fender on a affordable guitar model that the tones in your hands will also appreciate. The feel and look of the guitar is close to its predecessor, so when you put the guitars side by side with each other for comparison, the similarities are more striking than their differences especially for the 50’s vibe and 60’s vintage Squier models.

The 50s Squier Stratocaster body is crafted using alder with a gloss polyester sunburst finish protected by a single-ply scratch plate. Its bolt-on C-shape neck is made from maple in tinted gloss finish with 21 frets medium jumbo maple fingerboard. Vintage-style tuners and 6-saddle tremolo bridge holds the strings, keeping it in tune and for vibrato effect using the whammy bar.

Producing the classic sound of this Stratocaster are custom vintage-style single-coil pick-ups for the neck, middle and bridge controlled by a 5-position switch blade, master volume and two tone knobs. The sunburst finish together with the aged look neck, and other parts surely will well compliment the bright sound with a southern twang in it using its alnico pick-ups that players sought after and rave about.


Squier Classic Vibe 50s Telecaster

Best Electric Guitars Under $500
  • Single cutaway pine tonewood body in white or butterscotch blonde finish
  • Neck is bolt-on and has a C-profile made of maple
  • 21 medium jumbo frets maple fingerboard with black dot inlays
  • Set of Vintage-style machineheads in chrome
  • String-Through-Body Vintage-style Tele bridge plate with barrel saddles
  • Equipped with Alnico III single-coil pick-ups for the vintage blonde, while the butterscotch blonde having Alnico V single-coil pick-ups controlled by a 3-way switch blade, a master volume and master tone

Up to date the telecaster is the flagship guitar model for Fender since first introduce in 1952. The telecaster design was carried through Squier when it became a guitar brand. Giving it the license to make their own versions of the famous telecaster guitar, but on a much cheaper price.

Squier by Fender 50s Telecaster has a pine wood body in white or butterscotch blonde finish with a 1-ply black pickguard. The bolt-on C-shape neck and fingerboard with 21 medium jumbo size frets is all made is maple. For bridge, it has a 3-saddle vintage-style strings-through-body Tele with brass barrel saddles, and it is paired up with vintage-style tuners to complete the major parts of the guitar.

Responsible for producing the Telecaster sound are custom vintage-style single-coil Tele pick-ups placed on the neck and bridge controlled by a barrel type 3-way pick-up selector switch, master volume and master tone. The Squier Telecaster 50s vibe model mimics the look and feel of a classic Fender guitar. It is presented and been built as close as it could get to resemble the Telecaster of that time.


Epiphone Les Paul 100

Epiphone Les Paul 100
  • Combination of mahogany with maple top for the body
  • Bolt-on SlimTaper mahogany neck
  • 22 medium jumbo frets rosewood fingerboard marked by inlay dots
  • Set of sealed chrome tuners
  • Tune-o-matic bridge and stop bar tailpiece
  • Pair of humbucker pick-ups are placed at the neck 650R and bridge 700T controlled by a 3-way toggle switch, 2 volume and 2 tone knobs

Epiphone is a subsidiary of another well-known guitar maker namely Gibson Inc. The brand has a following like its mother company, and also famous for the Les Paul and SG models. So if you are looking for an LP or SG guitar, Epiphone is the brand that should come first into mind before going to other brands and for sure they have something in store to fit the budget.

The Epiphone Les Paul 100 has a single cutaway body made of mahogany with a maple top in a number of finish and protected by an off-white pickguard. It has a bolt-on neck also made of mahogany with 22 frets rosewood fingerboard. The bridge for the guitar is Tune-O-Matic with stop-bar and uses standard sealed machineheads to keep in tune.

Sound are produce using humbucker pick-ups placed on the neck and bridge controlled by a toggle switch for pick-up selection, separate volume and tone knobs for each pick-ups just like on Gibson guitar.

Epiphone LP-100 is not only good looking Les Paul, but sounds great too. This is one of the many LP guitars Epiphone makes that puts you closer with a Gibson Les Paul for the looks, playabilty and over all sound.


Epiphone G-310

Epiphone G-310
  • All familiar double cutaway body crafted using alder in ebony finish
  • Bolt-on SlimTaper D-shape mahogany neck
  • Set of standard die-cast tuners
  • LockTone Tune-o-Matic bridge with Stopbar tailpiece
  • Open-coil alnico humbucker pick-ups placed on the neck and bridge controlled by 3-way toggle switch, separate volume and tone knobs

Another guitar from Epiphone that has received massive great reviews across every guitar site is the Epiphone SG. The story of the design of this guitar and other SG models that came before it goes way back when the demand of guitar players for a lightweight double cutaway guitar coming from Gibson became overwhelming to ignore, and a strategic decision made by the company in order to compete with the popular lightweight Fender Stratocaster guitar. From then on it serve its purpose and became also one of the favorite go to guitars of many guitarist on all levels.

The Epiphone G-300 body is crafted using alder in ebony with a SlimTaper D-shape mahogany neck, and top it of by a 22 frets rosewood fingerboard complete with dot inlay markers. Other notable features on this SG model are the set of standard die-cast tuners, LockTone Tune-o-Matic bridge with Stopbar tailpiece, two open-coil alnico humbucker pick-ups placed on the neck and bridge controlled by 3-way toggle switch, separate volume and tone knobs.

Like the Les Paul it is very recognizable for it’s looks and the sound it brings. The Epiphone SG is a great guitar to have on any guitar collection. An affordable guitar with a good sound, classic look and playability that you will appreciate and can be proud of.


G&L Tribute Legacy

G&L Tribute Legacy
  • Crafted either in swamp ash for translucent and burst finishes, basswood on solid finishes protected by a scratch plate
  • Bolt-on C-shape maple neck
  • 22 frets medium jumbo maple or rosewood with dot inlays
  • Tuning keys are 18:1 ratio, sealed-back
  • Leo Fender-designed G&L Dual-Fulcrum with a whammy bar for vibrato effect
  • SSS G&L CLF-100 Alnico V single-coils pick-ups made in Fullerton California controlled by a master volume, a treble cut and bass cut

G&L are guitars designed also by George Fullerton and Leo Fender many years apart from Fender guitars and it is a different guitar company outside of Music Man where Leo Fender begun as a silent partner. The two founded the company after Leo’s 10 year legal restrictions with CBS that bought Fender company from him which not allow him any involvement to make instruments until this contract had expired.

The Strat body of G&L Tribute Legacy can be either made from swamp ash or basswood that comes in different colors to choose from protected by a 3-ply scratch plate. It has a maple neck with 22 medium jumbo frets fingerboard in maple or rosewood. Hardware are 18:1 ratio sealed tuning keys and Leo Fender designed G&L dual fulcrum bridge.

G&L CLF-100 Alnico V single-coils for the neck, middle and bridge are the pick-ups used on these guitars. All are controlled by a 5-way switch blade for pick-up selection, and PTB system on the volume, treble and bass that functions in all of the pick-ups. G&L Tribute Legacy is all about the classic Alnico sound with modern refinements on the guitar design done by Leo himself. It has a price within reach of every working musician and a guitar to recommend for beginners who wants to add a few more bucks in their budget.


PRS SE 245 Standard

PRS SE 245 Standard
  • Single cutaway body is made of mahogany
  • Comfortable profile mahogany set neck
  • 22 medium frets rosewood fingerboard with bird inlays
  • Set of PRS Designed-Tuners in chrome
  • PRS Designed-Stop-Tail Bridge
  • PRS humbucker pick-ups on the neck and bridge controlled by a 3-way toggle switch for pick-up selection, a separate volume and tone knobs for each pick-ups

Some says that the SE 245 is a guitar directly inspired the by the Gibson Les Paul guitar for their many similarities in design. Another reason that suggest it is because of Ted McCarty, the former president of Gibson, and also the creator of Gibson ES-345 and Gibson Flying V who became Paul Reed Smith mentor.

PRS SE 245 by Paul Reed Smith is a LP design guitar with a solid mahogany body without a pickguard. Its neck is also made of mahogany with 22 fret rosewood fingerboard having bird inlays as markers and garnish. Tuners and stoptail bridge are PRS design.

It’s loaded sound is produce by two 245 PRS design humbucker pick-ups for the neck and bridge controlled by separate volume and tone knobs for each pick-ups with a 3-position toggle switch for pick-up selection. The guitar is somewhat in between of a classic guitar and modern guitar for its design and features. It will win you over not only because of the looks of the guitar but mainly due to the sound it produces for being very articulate sounding even when over-driven because it still maintains a clear rich tone.


Gretsch G5445T Electromatic Double Jet With Bigsby

Gretsch Electromatic Double Jet With Bigsby
  • Chambered double cutaway basswood body with an arched top laminated maple in a number of color finishes
  • Comfortable thin U-shape maple neck
  • 22 medium jumbo frets rosewood fingerboard with pearloid hump-block inlays
  • Set of vintage-style machineheads
  • Adjusto-matic bridge with bigsby
  • Pair of Blacktop Filter’Tron humbuckers for the neck and bridge controlled by 3-position toggle switch for pick-up selection, separate volume for each pick-ups, master volume and master tone

Owning a Gretsch is like having a 60’s pimp out Cadillac with all the chrome grills, shiny wheels, and big roaring engine in it. The looks of the guitar is stunning with all the die-cast parts, classic body design that never goes out of style and not to forget to mention, has the sought after sound to back all of the bling featured on this guitar. Today Gretsch is in agreement with Fender to handle marketing, sales, and distribution of guitars while the Gretsch family retains ownership of the company and brand.

The Gretsch Electromatic Double Jet guitar has a chambered double cutaway basswood body with an arched top laminated maple in black complete with scratch plate to protect the finish. It has a thin U-shape maple neck and 22 medium jumbo frets rosewood fingerboard. Adjusto-matic bigsby bridge and vintage-style machineheads are placed to hold the strings and keeping it in tune.

Sound source of the guitar are pair of Blacktop Filter’Tron humbuckers for the neck and bridge controlled by 3-position toggle switch for pick-up selection, separate volume for each pick-ups, master volume and master tone.


Fender Modern Player Tele Plus

Fender Modern Player Tele Plus
  • Single cutaway body made of pine with a belly-cut
  • Comfortable modern C-shape maple neck
  • 22 jumbo frets maple fingerboard with black dot inlays
  • Set of Vintage-Style Tuning Machines
  • 6-Saddle Vintage-Style Strat Strings-Through-Body Hardtail bridge
  • Modern Tele neck pick-up, single-coil Strat for the middle and Humbucker with a mini toggle coil split switch placed on the bridge controlled by a 5-position blade, master volume and tone

Everything looks familiar with this guitar except for the pick-ups use on the guitar. It has a standard telecaster pick-up for the neck, a single-coil stratocaster pick-up for the middle and humbucker for the bridge that you can split with a click of a switch, giving you the option playing the bridge pick-up in humbuker or in single-coil mode.

The Fender Modern Tele Plus is made of pine wood with a honeyburst finish protected by a 3-ply pick guard. It has a gloss maple neck and fingerboard with 22 jumbo frets compete with black inlay dots. Chrome finish vintage-style tuners and 6 saddle vintage style Strat strings through body hardtail for the bridge.

For the sound, the Telecaster is equip with modern tele single-coil on the neck, single-coil Strat middle and humbuker for the bridge controlled by toggle switch, 5-way pick-up selector, master volume and master tone knobs. A cool guitar for just a fraction of a price compared with it’s much expensive cousins in the telecaster line. Having all the features needed in one guitar, great sound and playability for a price that is very reasonable.

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