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I'm planning on getting grey knights for a second army, but since I'm a student i don't have a lot of money to put into them. Are Draigo and paladins the only way to go for a cheap army if I want to play 1000+ games?

Paladins and Draigo can get really expensive really quickly.

10 tricked out paladins + Draigo is actually more than 1000 points.

 VegRAWR wrote:
I'm planning on getting grey knights for a second army, but since I'm a student i don't have a lot of money to put into them. Are Draigo and paladins the only way to go for a cheap army if I want to play 1000+ games?

I'd think so. Doesn't look like it'd be all that fun to play though.
In my opinion you might want to hold out for the new Dark Angels codex and try a Deathwing/Ravenwing army. It is also a low model count army list but a lot more fun to play and it's a new codex so you know they will have some shiny new rules to take advantage of *

Peace Out!
Jonny!

*This post was sponsored by a Dark Angels player.

 daedalus-templarius wrote:
Paladins and Draigo can get really expensive really quickly.

10 tricked out paladins + Draigo is actually more than 1000 points.

I think he meant moneywise, not pointwise. A terminator army has a low model count and price compared to the regular armies, but I don't really think they are competitive. Perhaps Space Wolves Terminator Army with Logan. Or as Rubber suggested a DW army with Belial.

In fact, I'd start with Draigo and 10 Paladins (4 psycannons, 4 halberds, 2 daemon hammers).
Then you could add a 5 men Paladin squad, a GK Strike squad, two Dreads, and one Dreadknight.

Palladins are cheap. I think interceptors also as kinda cheap money vice but good in game. (The shunt once.) What is expensive is transports. You do not need transports with a lot of the GK units.

Other cheap armies are elite armies. Low model count, few transports.

In fact, transports like Razorbacks or Rhinos are rather expensive.
If you go for a Paladin army, you will not need transports.