Even though the iPhone is no longer an early-adapter toy, it’s still most often found in the pockets of trend setters and influencers. That’s one of the reasons why the iPhone userbase is such an exciting target for mobile marketers.

Still, the iPhone is pricey. What if your target cool kids don’t have enough dough to buy a brand new 8G or 16G iPhone? Rumors that Wal-Mart would release a $99 iPhone this holiday season were debunked last week. But those gadget savvy, budget-concious spenders are still in reach, thanks to AT&T. The mobile carrier is now selling $99 8G – refurbished – iPhones to anyone who is willing to sign up for a two-year contract.

Now, the difference of $100 might not seem like a lot when the $70 monthly fee will remain the same for all iPhone customers regardless of model or refurb status. But it may be a low enough price to spread iPhone sales among people unwilling to spend $200 plus on a mobile phone.

And, of course, anyone heading to Wal-Mart to buy a new iPhone will save themselves a whopping $2. Starting yesterday, the chain put $197 iPhones on their shelves for the buying.