Upgrading to the latest iPhone may be a status symbol, but for many of us, the high price tag is a major drawback.

» RELATED: 4 great smartphones under $400

Beyond the Apple brand and all the hype surrounding it, are the speed, quality and features really worth it?

If you're on a budget, you may be able to get everything you need with a more affordable device. To help you in your search, we've compared some of the most affordable phones on the market (all under $300) with the iPhone 8 (starting at $699 unlocked).

1. Motorola Moto G5 Plus

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Credit: Motorola Moto G5 Plus

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Credit: Motorola Moto G5 Plus

Featuring a quality camera for photo and video, and a metal build, the Motorola Moto G5 Plus is also splash-resistant. The phone comes with a range of features for one incredibly affordable price.

Screen: 5.2" touch screen LCD with Full HD 1080p resolution and 424 ppi (slightly larger than the standard iPhone 8 with lower resolution but higher ppi)

Storage: Standard 32GB, upgradable to 64GB (iPhone 8 starts at 64GB and can be increased to 256GB)

» RELATED: 5 top-notch smartphones that aren't Apple or Samsung

Memory: 2GB of RAM (same as standard iPhone 8, but different processor)

Camera: 12 MP (iPhone 8 is the same, but the lens is better)

Buy the Motorola Moto G5 Plus today for $229.99.

2. Lenovo Phab 2

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Credit: Lenovo Phab 2

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Credit: Lenovo Phab 2

Although this is one of the cheapest smartphones out there, that doesn't mean you're sacrificing any quality. If you're looking to stream Netflix or listen to music when you're on the go, the Lenovo Phab 2 is an ideal option.

Screen: 6.4" IPS, 1280 x 720 resolution (larger than the standard iPhone 8 with slightly lower resolution)

Storage: Standard 32GB, upgradable to 128GB (iPhone 8 starts at 64GB and can be increased to 256GB)

» RELATED: How to tell if Apple is slowing down your iPhone — and how to fix it

Memory: 3GB of RAM (higher than standard iPhone 8, but different processor)

Camera: 13 MP (iPhone 8 is 12 MP)

Buy the Lenovo Phab 2 today for $199.99.

3. Nokia 6

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Credit: Nokia 6

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Credit: Nokia 6

Nokia was formerly one of the world's biggest mobile phone producers. But with the rapid rise of iPhone and Android smartphones, the company fell behind. The struggling brand was sold to Microsoft in 2014, and has since been making strides to regain its prominence. The Nokia 6 is a major step in the right direction for the brand.

Screen: 5.5" Full HD display; 1920 x 1080 resolution (larger than the standard iPhone 8 with higher resolution)

Storage: Standard 32GB, upgradable to 128GB (iPhone 8 starts at 64GB and can be increased to 256GB)

» RELATED: Consumer Reports: iPhone X is NOT the best smartphone you can buy

Memory: 3GB of RAM (higher than standard iPhone 8, but different processor)

Camera: 16 MP (iPhone 8 is 12 MP)

Buy the Nokia 6 today for $229.00.

4. Motorola Moto E4

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Although the Moto E4 is the cheapest Motorola phone, it doesn't compromise much on amenities. At the same time, the display doesn't do so well in sunlight compared to other phones. Photo processing is also a bit sluggish.

Screen: 5.5" display; 1280 x 720 resolution (larger than the standard iPhone 8 with lower resolution)

Storage: Standard 16GB, upgradable to 128GB (iPhone 8 starts at 64GB and can be increased to 256GB)

» RELATED: New Samsung phone: Nicer camera, static design, higher price

Memory: 2GB of RAM (same as standard iPhone 8, but different processor)

Camera: 12 MP (iPhone 8 is the same)

Buy the Motorola Moto E4 today for just $129.99.

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