I bought a Mexican Strat years ago , one of those Tex - Mex ones with the " humbucker " pickup . At the time I thought it was a decent player for the money - under 300. Over time it seems the neck has gone out of shape a bit, intonation issues and fretting out past the 12th fret on bends so I put it away for years. Recently tried to resurect it took it apart cleaned it up - but I could find no way to readjust the truss rod ? So I pulled on it !! Seems to work ok now - cheap materials wood etc fun to play as long as you dont wanna bend notes say past the 14th fret lol.
All guitar below certain price level are tend to have issues. But you know what... cheaper guitars are like box of chocolate - you'll never know what you gonna get
I bought brand new Fender Standard Stratocaster (MiM) back in 2012. Didn't played any guitar for about 20 years prior to that... I just one day recalled old days and said "shit man, that was fun back then". Let's call it a sort of middle-age crisis :lol
Anyway - my strat wasn't perfect. It had a couple of "childhood" issues. Wood wasn't dried enough (common thing in MiMs) so body shrunk a bit with time (resulting slight bend of the pickguard at bridge). So was neck - after several months frets edges started to coming out of fretboard. I have adressed those issues (well, not me - my luthier). Changed pickups for DiMarzio DP218 at neck/bridge, changed pots, did cavity screening. And guitar played very well.
In december I had a major dillema - stay with this strat and do some more upgrades or sell it as it is and get AM DLX Strat. So I took it to my luthier for detailed diagnosis and... seriously, I didn't believed what I've heard.
It turned out that over those 2 years and few months wood dried perfectly, the humidity of the body was in fact better than in customshopped Suhr the luthier had in service that day. It was slight warp of the neck, but really minimal. His exact words: Man, you have an outstanding guitar. So I decided to leave it. Luthier adressed neck warp by just levelling frets (he said that he will level the fretboard when time to change frets will come). I've replaced stock tuners with Fender locking tuners and MOST IMPORTANT - I've changed stock tremolo to stainless steel Fender Custom Shop Big Block Tremolo. Damn... it was like magic, I didn't recognized my guitar. Luthier even said that he would buy it from me
Right now my MiM Strat is just fabulous, I wouldn't never change it. Stays in tune even with tremolo use, sounds great. I have a really low action (about 1.2 mm at 12th fret) but there's no fretting out bending E1/B2 past the 12th fret. What could I want more?
SO MY POINT IS...
There are always some risks when buying brand new guitar. But if you're buying used one you know what you get and there's lots of outstanding guitars at that price level. I know that my guitar is not as good as strats from the old times. But there are diamonds even between present products. Even if the bodies are made of 3-5 matched pieces of wood (so what, present Gibsons below Standard model are made the same way). When childhood deseases are cured, even new MiM (with some upgrades) can become a great instrument.
Today I'll probably wouldn't buy a new one, I would search second hand market for some diamond. But in 2012... I just couldn't wait, patience never was my virtue
And it turned out I got very lucky