Are we talking list price or what can be had for 600$ on the used market? Because I think that could be enough to get a MIA fender on some occasions, not something I'd call cheap to begin with.
Anyhow, I'll concentrate to what I feel are cheap new, which to me is 400'ish or less.
I really like the CV squiers and the VM jazz isn't bad either. Peavey grinds can be great and are brilliant mod platforms. But the number one spot would have to go to the yamaha bb414. I've sold many MIA and MIE instruments, but the yamaha just stays. Partly because I want to have a cheap and reliable instrument I can take to parties where there is a distinct possibility of nasty things happening but still every time I pick it up and plug it in I'm amazed by the playability and tone. It's still the easiest bass to record I've ever owned, even beats a P bass. Plug in, adjust volume and play. Sure I can achieve better results with differend things, but never so easily. And it just naturally sits in the mix. And it's durable as the survivability definately has been tested.