Yes. Much cheaper.

I recommend transferring your domains to a reputable and inexpensive Registrar like ENOM. They have an excellent reseller called NameCheap.com.

$6.95 for a transfer (or less is not uncommon). Google for a coupon.

The process is like this:

1. Create an account at NameCheap.
2. Select TRANSFER domain from the main menu and follow instructions.
3. Part of the process will involve sending email to your ADMINISTRATIVE account (the one it is registered with), so you'll need access to that email.
4. The process takes about a week, so check your email box regularly.

If you are too close to the renewal date, some registrars may not let you transfer the domain. Which kinda sucks.

I also recommend this tool: Valuate.com, to judge whether the domain is even worth re-registering.