Frugal approach to buying a suit

Hi all,

A relative of mine sadly passed away this week and I will attend the funeral services later this week. I will also be attending a wedding in a few months so I figured a dark blue/navy suit might be a good buy. I just don't want to spend too much money on it (like over $200) as I barely need to wear one, but I also don't want it to look extremely cheap. What would be the most logical purchase?

Context: I recently got rid of my one suit as I lost a lot of weight in the past year and I'm intending to lose a few more pounds. I owned my previous suit for over 6 years and only wore it like 3 times. I don't expect I will need a suit on a regular basis in the short or long term future as my job/field doesn't require me to wear one. I don't spend a lot of money on clothes, usually only buy it from cheap shops or during sale periods, my buying criteria are that it looks & feels nice and fits decently.

Any advice is much appreciated!