I was transferring a domain name to a different register recently simply because it offered a lot of add-on services for free whereas with the current provider there is a hefty fee for it. An interesting note is that transferring the service to a different registrar often requires you to register for another year of service too. In this case though, the price is heavily discount to less than a dollar. This is pretty common as it is like cell phone companies that off people a financial incentive to switch providers.
It just reminded how if you really want to save money in registering a domain name for years and you don’t mind the bouncing between providers this would be the cheap way to save the most money. It can be an invisible process too where you won’t need to experience any downtime. Unless you current register your domain and have hosting with the same company. Then of course that would add to the complications. If not, this is a simple way to save money.