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as much as people hate to hear this i'm going to say it again...
BRAND IS IRRELEVANT... so long as the instrument has a straight neck and stays in tune the vast majority of the sound comes from your hands...
and cheap is a relative term... like michi mentionned it's roughly $200-$300 for a new low-end guitar/bass in a music store... if you know you're serious about playing and have the cash then start there... if not head to your nearest pawn shop... you should be able to score something for about $100...
as far as specifics go for learning to play punk and rock... so long as it's got 4 strings and frets and stays in tune you're good to go...
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i'm mr dave... i don't use avatars ever...