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Depends really on how far you want to range. But generally the best bang for the buck are the Bushnells. I have an Elite 1600 and have got good returns on dark trees at ~900 yards and buildings at 1620. Check out Scott at Liberty Optics, he's a good guy to deal with.
The Bushnell Scout 1000 ARC is probably the cheapest <span style="font-weight: bold">decent </span>rangefinder out there, but they start at $300. I'm not aware of any decent rangefinders that go for $200.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: mac37</div><div class="ubbcode-body">watch for a used Leica or spend a little more CRF800 </div></div>
+1. I bought a like new leica 1200 for $345 in the optics for sale section here on the Hide. Put your money in a drawer and watch for some to show up.
I went with the Bushnell Elite 1500: after reading the reviews here it seemed like it had the most value and was right about at the point of diminishing returns. Plan is to eventually pick up a the Swarovski.
But Elite 1500 is over the OP's budget, so I recommend saving up a little more.