Another word for "levný" would be "laciný". It has a little bit of a bad taste, kind of like "cheap" in english. Both cheap and laciný could simply mean inexpensive but they both can also suggest that the quality is not there or it can be used about a person who does not like to part with their money.
If it also means „cheap“, what else does it mean? I have a Czech dictionary with 40.000 words, it has two translations for levný, and they both mean „cheap.“
:Edit: Sorry, I now see that the other translation is “inexpensive,” which may be more neutral than “cheap.”