Reddit mentions of Eagle Claw PK555SP Pack-It Telescopic Spinning Rod, 5-Feet x 6-Inch

I'd recommend this rod, doesn't get much more inexpensive than $15.

I purchased it a few months back and then my roommate couldn't resist and got one as well. Just bought another for my girlfriend.

It's the perfect thing for hiking or just keeping in your trunk as you mentioned.

I agree that telescoping is more convenient then a multipart, but every cheap telescoping rod I have laid hands on has been real shitty feeling. I fished with a Eagle Claw Telescoping rod as my hiking rod for my first 2-3 years fishing and while I caught a bunch of fish on it, it's really only suitable for treble hook lures, it's very very challenging to get a hookset with a single hook once you get above panfish size. It's not the worst way to spend $16, but it's not a great rod for much.

This Kastking rod has floating guides, which is good, but their marketing leaves a bad taste in my mouth. They do sales all the time so it might be worth poking around.

I have this Okuma Travel Rod and I like it a lot, but I swear it was like $50-60 when I bought it a few years ago. I got it off of ebay, so I might have just gotten lucky.

If you are just going to use it for a single hike then it doesn't make sense to spend much, but a cheap one that breaks just become dead weight you have to lug around. You could just bring a hundred feet of mono, some bobbers, some hooks, and some split shots and just use it as a hand line or cut a cane pole.