What are some very good and cheap electric guitars. 10 points for cheapest and best answer.?

Cheap to me is like $100 for a playable used one. A very good cheap one would be more like $300 used or $500 new. Just go for good enough and cheap. There, the Squier Affinity series is fine. Got to have an amp, so yer looking at about $200 for the package, including a crappy amp, and nothing less is worth buying.

http://www.musiciansfriend.com/guitars/squier-affi...

If you're not looking to get a used guitar, Mexican Made Fenders are very good guitars that often go for as low as $300 (depending on the model and if there's a sale going on). Also, don't discount Fender's Squier brand.. while they used to be pretty cheap, they've gotten a lot better over the years, especially some of the newer series like the Squier Affinity Series. Those are some of the best band for your buck NEW guitars out there.