Looking to snag an iPhone 5 on the cheap? Well if you’re an AT&T subscriber, or don’t mind becoming one, you’re in luck. The carrier has just started offering refurbished models of Apple’s latest handset, and the 16GB version costs just $99…

As noted by 9to5Mac, refurbished iPhone 5s have surfaced on AT&T’s website. It looks like they have 16GB, 32GB, and 64GB models, and they’re priced at $99, $199 and $299 respectively. They also appear to have both white and black versions.

Of course, as with all great things, there are some caveats. For starters, you have to be ok with signing a two-year agreement to receive the above pricing. And given how prone to scratching the iPhone 5 is, a refurbished handset may disappoint.

AT&T does provide a 14-day return policy though, and a 90-day warranty, so that should give you some piece of mind. If you’re interested, you can find the discounted iPhones on the carrier’s website. There’s no word on how long they’ll be available.

What do you think about a $99 refurbished iPhone 5? Deal, or no deal?