I have a Garneau jacket I bought off Ebay last year for about $40. With 2 long sleeve jerseys underneath, I was fine at 15f yesterday.
It's also light enough that I can waer it with just a short sleeved jersey in fall & spring.
If I needed to, I could have put some newspaper between the jersey & jacket without bulking the arms any more. Newspaper makes a good chest warmer.
No need to spend $100+ for 1 piece of clothing. Shop smart.