At that price point, I think the below is going to be your best bet. I don't have any patience, but if you do, you can likely find it on sale for cheaper than $250, or maybe you can find one second hand on eBay or Craigslist or something. It's entry level, but a good entry level offering IMO.
Thrustmaster TMX PRO Racing Wheel https://www.amazon.com/dp/B01N9K9N33/ref=cm_sw_r_cp_apa_i_Qs.MCb6HDSR6X
If you could stretch the budget a little, this would be a way better starter wheel than the Logitech one
Thrustmaster TMX PRO Racing Wheel (XBOX Series X/S, XOne & Windows) https://www.amazon.com/dp/B01N9K9N33/ref=cm_sw_r_cp_api_glt_fabc_78K1E43RHD9PV2YY6JD6
If you get the "TMX Pro" set, you get a set of TP3As. Which are Thrustmasters standard, non-Loadcell pedals. They're decent. Way better than the standard Logitech ones anyways.
I got the Thrustmaster TMX Pro back in March. No complaints, it's holding up well. Tends to run a bit less than the T150 pro, but it's pretty much the same wheel with Xbox buttons instead of Sony.
Get the Pro model with the T3PA pedals and you'll have better pedals and an equivalent wheel. I don't think the base model is worth buying with the plastic two pedal kit.
Can't find the T150 in stock, but the TMX Pro is $250 on Amazon. That's a good choice if you're on PC or Xbox.
I have it and am happy with it. As a bonus, the Thrustmaster gear has a better supported upgrade path. The T3PA pedals will work with their higher end wheel bases, or with any wheel if you use a USB adapter you can buy.
I recently got a thrustmaster TMX pro off of amazon for $250. Supposedly the TMX pro is the thrustmaster equivalent to the g29/g920. I have never used the g29/g920 so I cant compare but its said that the pedals that come with the TMX pro are better and the thrustmaster ecosystem is better when compared to logitech.
That being said, the TMX pro has more plastic on the wheel compared to the logitech wheels. Overall I'm happy with the thrustmaster TMX pro as a first wheel. FFB feels nice, paddle shifters feel solid and click nicely, and the pedals are solid.
Now's the time I guess. I just came back after 7 years of not playing and I'm surprisingly not that rusty. Couple hours of practice and I was right back within a second of my old lap times. Luckily I still remember how to dodge rookie wrecks, too, so my races are going well.
If you find a good deal on equipment I would pull the trigger on it quick. Between the sudden influx of new drivers and the fact that Amazon's shipping is still all fucked up for non-essentials, it's actually pretty hard to find any of the mid or low end wheel and pedal sets.
I lucked out finding this one a bit for $200: https://www.amazon.com/Thrustmaster-TMX-Racing-Wheel-xbox-one/dp/B01N9K9N33/ref=sr_1_1?dchild=1&keywords=thrustmaster+tmx+pro&qid=1585764276&sr=8-1&x=0&y=0
Looks like they've bumped the price up $50 on it, though so it's probably not the best deal out there anymore. Also the shipping times on Amazon are just totally fucked right now so pay attention if you order. My "next day Prime shipping" took about a week lol.
From what I've heard, the G29 is definitely adequate to get started, a TON of people use it. I've never used it though so I can't comment on what it's like. From a quick google it does have force feedback which is very important.
I use a Thrustmaster TMX PRO that I've had for a few years. I had some weird problems with it on xbox but it's performed well on the PC, no issues. It's actually on Amazon for less than the G29 right now. Personally I consider my wheel "good enough". Not perfect but for the money I have no complaints.
The biggest issue are the pedals. I don't have recommendations on which ones to get instead, but I do want to get a "load cell brake" mod for mine, and you'll probably want it as well. Since the pedal is light and doesn't have any feel, I have a hard time being consistent with the amount of brake I'm applying. With a load cell, the amount of braking applied depends on how hard you're pushing on the pedal rather. It's easier to apply a consistent amount of force rather than trying to move your foot to the exact same position in space every time.
Edit: this is not a referral link, but here is the one I have. Not sure what other options are out there at this price point.
I don't know if I'd recommend a wheel with a 2-pedal setup. I didn't feel right at all using automatic or autoclutch. Might amount to a very sub-par experience if you only have half the gear. Clutch and shifter is where it' at for sim racin! Much pricier though (I went with T300RS GT Edition and TH8A shifter).
Alternatively, you could start a little higher and have room for upgrade later. I'd go with the TMX Pro for the clutch: https://www.amazon.com/Thrustmaster-VG-TMX-PRO-Racing-Wheel/dp/B01N9K9N33
So then you can add the TH8A shifter later on when you can. It's very worth it for the experience if you're going to bother putting money down on sim racing at all.
Im using the Thrustmaster TMX Pro, which is a fantastic budget wheel, especially for someone on xbox like myself.
The cockpit is a Hyperdrive 100RS that I bought on facebook marketplace for about $30 (not sure how this aussie product made it to the US but I'm not gonna question it.)
The game is Project Cars 2, which is the only true racing sim that isn't completely Jank on console.
And finally the TV which I believe is this model. I didn't buy it specifically for simracing, but just for general TV/gaming use.
Hope that gives you some useful info.
Thrustmaster says it’s out of stock, and I can only find one listed on Amazon for said price here.
TMX Pro. I use the ones that came with the set.
I use a Thrustmaster TMX Pro. $250 shipped by Amazon in the USA.
https://www.amazon.com/Thrustmaster-VG-TMX-PRO-Racing-Wheel/dp/B01N9K9N33/
Just to be sure, this comes with a clutch pedal right? https://www.amazon.com/Thrustmaster-VG-TMX-PRO-Racing-Wheel/dp/B01N9K9N33/ref=mp_s_a_1_5?keywords=thrustmaster&qid=1551469857&s=gateway&sr=8-5 And is better than this for xbox one? https://www.amazon.com/Logitech-Dual-Motor-Feedback-Driving-Responsive/dp/B00Z0UWV98/ref=mp_s_a_1_2?keywords=g920&qid=1551469952&s=gateway&sr=8-2
If so I'm gonna buy it right now
The wheel and pedals from the picture are $250, plus between $150 and $250 for the stand.
Thrustmaster VG TMX PRO Racing Wheel - Xbox One, Black https://www.amazon.com/dp/B01N9K9N33/ref=cm_sw_r_cp_tai_iZBQBbBY8PPA0
No guarantee there will be sales after Christmas. I don't recal seeing anything after last year. If you find a good sale on something you should prob jump on it. With that said, the T300 Ferrari alcantara editions is on sale for $360 at newegg. It's not sub $325 but it's a really good wheel/pedal combo. It is usually on holiday sale for $299 but it may not go that low again for a while. I also assumed you are on PC, if not the the T300 is PC and PlayStation only.
TMX Pro $250 at B&H, but it's a pre order. Same price at Amazon but it's out of stock. If you order now you can lock in that price and they ship when available. I recommend be patient and get a good price now.
Thrustmaster VG TMX PRO Racing Wheel - Xbox One, Black https://www.amazon.com/dp/B01N9K9N33/ref=cm_sw_r_cp_api_8f4Nzb0B0DBHR