Actually, the rumors I heard most often were spot on. They predicted a $99 down payment with a two-year contract for the 5C and a $199 down payment with a two-year contract for the 5S. Cheap is a relative term that means something different for everyone. I knew there would be no inexpensive iPhones released because Apple doesn't do business that way. The 5C is $100 less expensive than the 5S, but certainly not cheap.