Since you want to save some $$ You might be able run a tap thru those threads and clean them up enough to make them functional.
Now my definition of functional is pretty broad. If there is so little threading left that it doesn't seem to have enough bite, you can try threading it in while gooped up with some metal epoxy like JB weld. The pedal and the crank will be permanently stuck together, but they are cheap parts, so who cares.

I hesitated to suggest this remedy, but... Even a helicoil done by the shop will cost $30 or so.Who wants to spend $30 on a $20 crankset? JB WELD is $5 and you probably will find other uses for it.

If you can't run a tap thru-no tap- just crank it in bad threads and all-gooped up with JB weld-sort of a ready made tap as it were. You should file the pedal threads a bit to clean them up, so you get it in straight. Screwed up threads can hold surprisingly tightly-especially when reinforced with JB weld.

You have nothing to lose but a cheap pedal, right?

Luck
Charlie