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The Toastmaster T100 (starting at $8, Amazon) is an $8 toaster whose features and functionality largely fall in line with what you might expect at this price point. It has a thin, glossy white metal casing that is attractive and easy to clean, but is prone to heating up. It features a hinged crumb tray, five five browning levels, automatic shutoff, and wide toast slots that are slightly longer than those found on most toasters. Noticeably absent, however, are cancel, defrost, and bagel functions.
User opinion about performance is mixed. One user posting a Toastmaster T100 review on Newegg notes that toasting multiple batches of bread requires patience: the toast lever won't lock down when the toaster is hot, so you have to wait for it to cool before reloading. Another user writes on Newegg that toasting is generally good once you find the browning "sweet spot" and a review on Amazon comments favorably on how quickly this model toasts. Then there are the negative reviews on Amazon that complain about burnt toast and smoke coming from inside the toaster.
The general opinion is that this toaster is adequate given its cheap price, and users with reasonable expectations in terms of functionality and durability should be able to make do with the T100. However, it may be worth spending a few more dollars and opting for another cheap toaster that offers better functionality and more options.