A recording forum I belong to had a thread regarding Xaviere guitars....very good bang for the buck....not great craftsmanship but, good playable electrics with decent hardware....
check them out at guitarfetish.com

For electric basses I think the best bang for the buck is an SX....
I have had my P-bass clone for over ten years and everyone who has ever played (which are many)have raved about the playability and tone....it has held up well...no issues.