Cheap links can trigger Google's spam algorithm. If the webspam team finds excessive spam in your profile, they can apply a manual action to your site. 

Search engines frequently update their algorithms to more effectively detect and penalize manipulative link-building tactics. Websites that resort to obtaining low-quality links may face the consequences of algorithmic changes, resulting in a significant drop in organic visibility.

Cheap links are often associated with link schemes, link farms, or other manipulative practices. When search engines and users perceive a website as having low-quality links, it can lead to a loss of trust and credibility. Users may be less likely to click on the site's links, and search engines may deprioritize the site in search results.

If the links are from irrelevant or spammy websites, users may have a negative experience when navigating to the linked site. This can lead to higher bounce rates, lower engagement, and a decrease in user satisfaction, all of which can indirectly impact organic rankings.

Search engines are getting better at identifying unnatural links and ignoring them. So, there is a high chance that the links will have no impact on your site.