Hello my name is Andy and this is my first post. I'm currently in high school and I'm in my first band. On a scale of 1-10, my friends say I'm 4.5. That's not bad considering I picked the bass back up mid-January

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The guitarist is a rich boy with all sorts of expensive equipment (he doesn't brag at all which is why he's my friend). He's got 3 guitars (2 american fenders, 1 custom shop Gibson) and 3 amps (fender deluxe, supersonic, twin). He's been taking private lessons for like 3 years. Our drummer is a humble kind of guy, currently no drum set (he uses the guitarists drum set, i forgot to mention he has that too) but he's dedicated and practices on his uncles drum set.
I'm what you would call a casual player. I got a washburn lyon bass a long time ago. I recently picked it back up because the guys needed a new bassist. So I pulled it off the rack and long story short, here I am. I can hardly read music, I memorized all the notes on the fretboard, I learned some scales, practiced some easy songs, read up on theory, jammed with my friends etc.
Thats not good enough for my guitarist though. He's a rich boy and it turns out (in his words) "You need to have Fender equipment to sound good". That just hurts because my family cant afford that ever since this economy problem. He also wants me to get better at bass. Overnight.
In my opinion, I do need a better guitar. The amp can wait cause we aren't gigging yet. I'm looking at guitars in the <$600 range but thats just not damn good enough for him. He pressures me all the time about it. He always tells me to get better at bass, even going as low as making fun of me at school and talking trash about my favorite band (Pink Floyd). If i could get lessons like he does, i would do it in a heart beat!
And thats another problem. He's more blues oriented and I'm cool with that but when we do Floyd covers, he makes it sound like Hendrix! Sometimes i tell him, why dont you use a delay or some sort of effect to change up your tone but he claims that "Effects are for people who can't make it sound good clean". What a douche!
So in conclusion, I have 2 Problems: 1) I need help finding the best basses/amps for under 700 bucks. and 2) how do i get his elitist ideas out of his head?
Sorry for making it long hahaha, help would be appreciated.
Thanks,
Andy