May I know your location???
If you want to buy a server then chose a webhost near to your location.
It would be very useful for you..
Price details slightly different among the providers.
But before buy a server you should check their security & 24/7 service.
As the guys here have said, cheap is subjective. Most hosts offer a lot of bandwidth these days because they rely on the law of averages: i.e. 1 user out of 100 might upload their quota, but the other 99 wont even come close to it.
As most people will agree, don't let price influence your choice of host as the #1 factor - if you can find the bandwidth you need and good support, pay a little extra.
At the moment I am liking BlueHost a lot as well as HostMonster, but like I said it really depends on what "cheap" means to you.