It won't directly save you money, no.
But I second Laura's "cushion" comment -- it gives you room to have a semester where you drop a class or two and still remain on track to graduate on time. My husband was able to have two such semesters thanks to his AP credit.
But even if you come in with a ton of general elective credit, you don't have to graduate in 3 or 3.5 years if you don't want to.

Nobody's going to kick you out after you accumulate 180 units outside the GIRs.