They're generally not bad. In fact, they can be very nice instruments. But they are a bit inconsistent, I've seen quite a few really, really bad ones. If possible, try before buying (or buy online from a store with a good return policy and no hassle with customs paperwork in case of a return).
The Chinese CVs were a step above, that's true. Those were truly amazing instruments for the price. Better than MIM Fenders and REALLY close to MIA Fenders (in some ways even better IMO). But they weren't always perfect. SOME of the Chinese CVs had wider string spacing than normal. You can easily spot these as they had high mass bridges with brass saddles. This varied a bit over the years, even on the same model. Some had saddles with standard Fender string spacing and some had the high mass bridges with slightly wider string spacing. I don't enjoy playing the ones with wider string spacing nearly as much, even though EVERY Chinese CV I've played has been a superb instrument.
Btw, did you mean you can't afford a Player series bass or that you can't afford MORE than a Player? If you can afford something close to the Player price range you might want to check out the Yamaha BB434. I have no idea what the prices and availability are in your area but normally the BB434 should cost LESS than a Player and only slightly more than a new CV. The BB434 will KILL any similarly priced Fenders/Squiers. It's easily as good as expensive MIA Fenders and the QC is much better than Fender/Squier too. The chances of getting a poor Yamaha BB are practically zero.
The ONLY good reason not to buy a BB instead of a Fender is if you want something closer to the classic, vintage Fender vibe. But the BB434 will still sound and "feel" pretty close to a classic Fender P-bass. In fact, in my opinion it will be closer to a classic, vintage P-bass than any of Fender's current MIA P-basses, where they've made too many "innovations" that takes the tone in a slightly different direction. Not necessarily bad, just a matter of taste.
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