Craftsman 12 in Bench Drill Press
Although not the cheapest model on the list, this drill press still comes at an incredibly good price and includes a laser guidance system for properly positioning your work piece. Another option this drill press features (Which none of our other choices has) is a fence for the table. While a fence may seem strictly optional, it can be incredibly handy when you need to drill a series of holes in a straight line. The Craftsman 10 comes with a 2/3 HP motor, coupled through pulleys to give it five speeds with twice the motor power of most inexpensive drill presses. All this, and the Craftsman warranty standing behind it make this a great budget drill press.