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Do you still want iPhone 4 for using VRS? I found out that AT&T has reduced iPhone 4 refurb which it will cost $99. Is it deal for you?
Check it out:
AT&T cuts iPhone 4 refurb prices, now $99 with activation | BGR | Boy Genius Report
Buying refurbished is almost buying it new. Apple reconditions whatever they are selling refurbished then certify it. It's a great way to save some money but personally up to you.