I personally wouldn't put any wine that I won't drink into a sauce (pasta or pizza). Except for the expensive wines that I may own, I put just about any red wine into a sauce, including chianti, cabernet sauvignon, zinfandel (red) and merlot. It doesn't really matter. Whatever red wine I am drinking goes into the sauce. I wouldn't spend over $10 a bottle just for the sauce. I would rather buy a bottle I will drink and share it with the sauce, not the other way around. You won't need much in any event.
There are many brands that should suit your purpose. I don't know if you are near a good wine shop, but what I would do in your case if you don't know much about wines is to go to a good wine shop and ask for help in making a selection. Tell them that you are looking for a good-quality red wine that you can drink and enjoy but also use in cooking a tomato-based sauce. And give a price figure that you don't want to exceed. That will help them narrow the field. There should be many possibilities under $10. I would stay away from the "jug" wines (the ones that come in gallon jugs and in smaller sizes) as much as possible since for a few dollars more you can usually get a better drinking wine. I would definitely avoid cooking wines that are sold in supermarkets. I usually don't use burgundies in sauces because the best of them (French) are very expensive. That often means that a cheap bottle will be expensive also for what you get. Even good domestic burgundies are expensive compared with other domestic red wines.
You can't really go wrong with brands like Mondavi, Rosemount (Australian), Ravenswood (cabernet sauvignon or zinfandel). Santa Rita 120 (Spanish), and Kendall Jackson. I drink all of these, plus many more, on a regular basis and wouldn't hesitate to use any of them in sauces. If you mention some of these names to the wine person, that should get you into the ballpark in terms of possible candidates for your sauce. Some of the best values are in Australian wines, Spanish wines, Chilean wines, and French rhones (ask for the cheap ones since there are also some expensive ones). If you are not a serious wine drinker, I would then ask the wine person for a good wine that you want to use primarily for cooking purposes--one that will work well in your sauce but not cost much.