First, I doubt you'd get a satisfactory electric pressure cooker for that low a price (electric pc's are sometimes called "multi-cookers" too). It might work okay in the beginning (or not), but won't last well or may just have problems (or any non-stick inner pot will eventually need to be replaced), etc.
If you want an electric pc, I'd suggest waiting for upcoming Black Friday and getting one of the models of the brand "Instant Pot" (IP makes various models, though the DUO60 7-in-1 is the best selling of all). Probably most of the IP models will have very significant sale prices on Black Friday and Amazon Prime Day (twice a year). There are also lots of Facebook groups for those with IP's where you can get support, questions answered, tips, recipes, etc.
If you don't mind getting a stovetop pressure cooker instead of an electric, one inexpensive one that works really well is Presto (about $35?). Some people turn up their noses at most of the less expensive stovetop pc's but we've had Presto's in our family for years and they're still going strong. The least expensive ones will be made from aluminum rather than stainless steel, but they still work fine for pressure cooking (though won't do some of the other things many electrics will do and have other disadvantages). Presto also has stainless steel models now:
https://www.amazon.com/Presto-6-Quart-Stainless-Pressure-Cooker/dp/B00006ISG6
more Presto:
https://www.google.com/images?q=presto+pressure+cooker
https://www.google.com/search?q=presto+pressure+cooker
You said you found one on Amazon for $38. Would have been good to give a link to the exact one you're referring to.
But what did the Customer Reviews at Amazon say for that one?
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At your price range you’re only going to find aluminum ones. They aren’t bad but they will pit if you leave acidic stuff in them too long, like tomato sauces. Regardless of what it’s made of I seriously would try to avoid gimmicky handle locks because they always wear out or break. I’ve been given several like that.
Mine is a simple 35yo stainless steel presto with the old style bakelite handles. I have no rust issues or corrosion at all. I replace the seal every 3 years or so.
I like presto very much because parts for them are always available, things like seal kits, toggle weights, etc.
Here is the modern presto in stainless, it’s like $79: https://smile.amazon.com/Presto-6-Quart-Stainless-Pressure-Cooker/dp/B00006ISG6/
Look for a Hawkins SS pressure cooker, they're durable, easy to use and are 1/3 the price. A quick Amazon search found this. Also, parts are readily available if you need to replace anything. In fairness, this is even overkill in my book, I use an older Presto that I've used countless time and has never given me any issues, and though it's a bit smaller than what you're looking at, it works great and has worked great for 5 years. Hell, it even has a mirror finish (I scrubbed mine away years ago with scouring pads, but that can likely be avoided.)