Is it possible to transfer to a different (less expensive/better) registrar?

Yes, you should be able to transfer your domain to a new domain registrar from your existing registrar. You’ll need to contact both the old and new domain registrars concerning their transfer policies.

If your domain renewal is currently due, it is best to renew your domain first before trying to transfer it to another registrar, or else your current domain registrar may put a hold on your account, preventing the transfer.