I installed Master Halco Legend 4-rail vinyl fence last year and paid a fraction of what you are talking about. My costs were about $650/100 lf. including posts, rails, concrete. That is pretty close to your price from Lowes. I bought most of my fence materials from a local ranch supply store. There are a wide variety of vinyl fencing styles available (see link) http://www.fenceonline.com/productlinesvinyl.html
Most fencing brands have web sites that allow you to review their quality assurance practices and warranties. I doubt that Lowes fencing is poor quality, but they don't tell you who manufactures the fence they sell under the "Freedom" brand. You may be best served by researching and comparing the products based on the nationally available brand names.
Points to compare: All vinyl fence needs to have an attractive finish and UV resistance. You are also paying for vinyl thickness (important to resist breakage and flexing) and a warranty and dealer backing. Compare these variables and select a fence that is good enough without breaking the bank.
I'm sure you can find very good quality at a moderate price point. Hope this helps.