Better than inexpensive, have a look on the free CAD programs of the source. It called my attention and I will include on my site of free engineering tools (second source).
I use IntelliCAD. It's a cheaper alternative to the industry standard AutoCAD. It is virtually 100% compatible with AutoCAD and works with the AutoCAD file format, but it is a fraction of the price.
There are several companies making their own IntelliCAD software. After doing some research a few years ago I went for CMS IntelliCAD. I'd recommend it.
For creating diagrams and line drawings the absolute best software I have ever seen is called Autodesk Actrix. For reasons best known to themselves Autodesk stopped selling it about 10 years ago, but if you can get hold of a copy by hook or by crook, do so.