Hmmmmm, that isn't such a bad price to start but certainly you could get it down a bit if you are going to go for 60 months. Two maybe not so secret tricks:
Login to your account
Add the desired term to your cart
Then just logout without making a purchase
that sometimes will generate a discount email to you (make SURE you are logged in)
Call and have a talk with support
I have actually found good insight from support
Let them know you want to pay for your renewal
Typically they are the best resource for existing customer discounts
A lot of the GoDaddy promotions you might find will be for new accounts. Try both of those ways and see it that gets you 10% to 25% off! Come back and let us know the results.
I guess I have a bit of a three (3)? Perhaps it is time to evaluate your current hosting and migrate your content to a package that may better suit you? This means that you can receive those "new" discounts even though you are an existing customer. If your current hosting expires in 30 to 90 days that gives you enough time to migrate to what might be both better AND cheaper hosting. You could also get things like free or discounted items (SSL certificates, Microsoft Email...) Hope that helps?
...turns out that my two cents is worth less or more depending on the current exchange rate.
roy darling *my posts seem a lot shorter in my head