The best cheap electric guitar for you will also depend on what sort of music you play. There aren’t set rules, but certain features will make accessing particular sounds and techniques a bit easier.
If you’re into rock or metal, then humbuckers will give you a bit more output, as opposed to single coil pickups. Humbuckers generally yield a fatter and warmer sound, whereas single coils are brighter and thinner sounding. Neither is better per se, it’s just what you want out of it. Some guitars give you the best of both worlds with a combination of both single coils and humbuckers. It’s worth noting though that these are all fairly general statements, as individual guitars will all have their own tonal characteristics.
Features like a thin neck profile might aid players who are looking to play really quick lead lines – you’ll often find these on guitars with high output pickups too. Some of the best cheap electric guitars may feature a tremolo or whammy bar too – these can help you add texture to your sound, or even create wild sound effects.