JMoore mentioned the Janome 3160. I bought a used one a couple years ago, and love that this little machine has needle up/down, and the auto thread cutter, and can be used for quilting. It is on the smaller side for quilting large projects, but is lovely for the price. I think you can get a new one on sale now for close to your budget. If you later decide to get a larger machine, the 3160 will still be useful.