It depends on how long you ride and the conditions you’re riding in.

• Cheap over-clothing acts as a total rubberized or vinyl barrier and can be more watertight in short, torrential downpours because there are fewer exposed seams. On the downside, over-clothing lacks thermal insulation and breathability. So sweat can get trapped inside on long rides making you cold and damp from the inside out.
• Premium Gore-Tex textiles allow body heat and sweat to escape while keeping rain out. They’re a better choice for all-day touring and daily commuting. But they’re more expensive and can leak in extended downpours.