iPhone 5 Deals Arrive at Target & Best Buy for Limited Time Shawn Ingram12/07/2012 Best Buy and Target are both offering iPhone 5 deals on all major U.S. carriers, a rarity for the two-month old iPhone. The Target iPhone 5 deal is very similar to RadioShack’s discount from yesterday. Both stores offer a $20 instant discount on the iPhone 5 until December 15. The deal knocks the 16GB model down to $179.99, the 32GB model to $279.99, and the 64GB model to $379.99. The discounts aren’t huge, but they’re the first discount either store has offered for Apple’s new iPhone.Advertisement Best Buy offers a bit more money for new iPhone buyers, but doesn’t take the money off at the register. Instead Best Buy will give new iPhone 5 buyers a $25 discount after they buy the phone. Anyone who wants to take advantage of the Best Buy deal still need to pay the full subsidized price of $199.99 for the 16GB model of the iPhone 5. These discounts are the first time that any store offered Apple’s newest smartphone at any sort of discount. New iPhones typically don’t get discounted until about a year after release when the next model is just around the corner. Even then the price doesn’t typically drop dramatically until a new iPhone is available.Advertisement The best option to get a discounted iPhone 5 before the iPhone 5S gets closer is to buy a refurbished model of the phone. So far AT&T is the only carrier to offer refurbished models of the iPhone 5. AT&T offers the refurbished models for $50 below the new price, so they start at $149.99 on a two-year contract. Other carriers will likely offer refurbished models in the future.Advertisement Apple itself never offers discounts on any iPhone models, and doesn’t even sell refurbished models. Apple only cuts prices on iPhone models when the new model is ready. Then Apple drops the lowest storage option of the old model down to $100 as the mid-range option of its lineup.