Once a month, Namecheap releases a new discount code for new domain registrations. When the month ends, the discount codes expire. They do not need to be expiring domains either, by transferring them, you are simply extending the expiration date by 12 months. The transfer process is easy and you can save a lot of money in the process as well. In addition to the new discounted price, you will also get your FREE Whois Guard with every new domain registration or transfer. Plus if you have the need, you can also get a FREE Comodo Positive SSL with your domain registration.
Here is the Namecheap coupon for registering a new domain name for January 2011.