Not only refurbished but also used.
I called a month ago to inquire about it. I was told that these items are off the lease.
After the customer leased it for a year or two (or whatever the terms are), customer has an option to buy. If they don't buy it, the leasing company take them back, "recondition / refurbish" it, and sell them at these low price.
It's a personal preference. I buy refurbised product (e.g. minor defects or customer return but not used) but I will not buy USED product, especially for such a long term.