The most commonly accepted method of choosing a low cost electric guitar is to find an instrument with good quality wood, and at least reasonable workmanship. Guitar manufacturers tend to cut corners with cheaper guitars, by using cheaper pick-ups, and hardware, but these are all upgradeable parts. The following are some of the better low cost electric guitars available. (Remember, if you buy an electric guitar, you're going to need to pick out a guitar amp to go with it.
1. Squier Fat Stratocaster
2. Epiphone G-310 SG
3. Yamaha PAC012DLX Pacifica Series HSS Deluxe
4. Squier Affinity Series Telecaster
5. Epiphone Les Paul Special II
Check out these Gibson guitars and other Lovely Guitars, You will definitely love these electric guitars at worldelectricguitars.com