Somebody gives you 400 dollars for a guitar, so you buy?...

[airwarrior]

New Melody Maker.

[markom89]

A 1959 Gibson Les Paul & a couple of Strats and Teles, in 1959.

[mojocaster.com]

Originally Posted by gkoelling

A sweet MIM Tele.

A used MIM Robert Cray Strat

A used J. Vaughan Strat

I like the way you think! I'd add a MIM Fender James Burton, and a Reverend

[FretFire]

MIM Tele, but then again I may just want a tele .

[gixxerrock]

Originally Posted by Bluesbuff

PRS SE , chose the model you like, great value

Exactly what i would do.

[HammyD]

There are many choices but I picked up a Robert Cray Strat for $450 as new and could not be happier. The stoptail is definitely different. almost all the cool things about a Tele and a Strat.

[Sparky6string]

Wow excellent thread- I didn't realize there were so many good guitars at this price point!

used MIJ Fernandes Strat or Tele

used Peavey Firenza

[Reason]

Now is the time to buy used! I've seen some good partscasters in that range.

[J.T.]

MIM Strat with a Humbucker in the Bridge

[dk123123dk]

Something Japanese.

dk

[Thwap]

I'd get...jeez 400 doesn't get much.

I just can't do it, keep it.

[ibobunot]

I just picked up a 2008 MIM Tele = 285.00
Wilkinson 3 Brass Saddle Tele Bridge = 25.95
Wilkinson Fender-Style Nickel Tuners = 26.95
Bill Lawrence Deluxe Keystone pickups = 64.00

[alvagoldbook]

In this economy, that 400 dollars gets saved.

[VaughnC]

No two hunks of wood are exactly the same so I'd keep an open mind, run the racks, and let my hands & ears decide.

[BigPapiFan]

Used.
There is a recession going on out there and used prices are dropping faster than W's approval rate. The number of fine used guitars I have bought for <$400 over the last couple of years is astounding!
Epi Casino + case, Dearmond Starfire Special + case, G&L Tribute ASAT 1 Classic, 1 Semi-hollow, another DeArmond Starfire Special, G&L Tribute Legacy, DeArmond Solid body M-66 and M-68, Epiphone Wildkat. I did get a new dual pickup Melody Maker on a close-out. They are surprisingly nice.
If you buy used you can buy, try, and flip it for pretty much the same $$ if you find something you like better. Guitars are like cars, if you buy new you are going to take a big depreciation hit.