Also, Peavey Foundation basses (J neck and 2 ferrite pickups) are a touch more expensive, but you should be able to find one under 225. Also, the "Foundation S Active" is a sweet American made P/J with active pickups that you might be able to find for under 225. Though folks are discovering their value and quality, there's alot of USA-made Peavy basses from the 80's and 90's that often pop up within your budget. Most of them will have 21 or more frets and be really well made instruments.
Agree completely. I've bought both a 1995 5-string Peavey Foundation (left) for $200 and an earlier, early 80's 4-string Foundation (centre) with the super-ferrite pickups for $150 over the last year-and-a-half. They're both very nice instruments, US-made, comfortable to play, built like tanks and very versatile. The fiver is an especially nice beast—and tremendous value for the bucks. [The T-40 on the right is *very* heavy, but the Foundations are rather light.]