Straight Talk is currently offering refurbished 16GB iPhone 5 models for $500, which is $150 less than a new model and $50 less than a new iPhone 4S. This makes it the best model to buy if you’re on a budget and still want to take advantage of all of the features supported on the iPhone 5, especially with the forthcoming iOS 7 update expected later this Fall. There’s no word on how long the deal will last so it’s better to buy sooner than wait later for a better deal, especially as the Straight Talk iPhone 5 features an unlocked SIM slot for domestic and international use, making it perfect for domestic GSM BYOD service as well.