When is the right time to buy a new or used car or truck? There is a long-standing myth that says the end of the month is the best time to buy because dealerships have sales quotas to meet. Although dealerships do set goals each month, that doesn't mean that you should wait until the end of the month to buy your vehicle.

In full disclosure, I have been in car sales for a little over 17 years, so, I think I can give you a few tips that can better prepare the first-time buyer or maybe someone that hasn't purchased a vehicle in a while. Back to when is the right time to buy, let me tell you, a customer can get the same deal whether it's December 1 or December 31, from the dealer, the only thing that changes is the rebates from the manufacture. My first tip is to ask to see the dealer invoice, most of the time, when you're buying a new car some dealers will show you, just to prove to you the savings you are actually getting on a new vehicle.

It's always good to have an idea of what you're looking for before you hit the lot and know your credit capacity and what your can afford. I would grab a loan calculator from the web and punch in some numbers. Taking these couple steps will give you a little more knowledge as you make your way to look for your new ride.

If it's your first time shopping for a new or used vehicle, and you don't have a relationship with a dealership, it is good to know what to expect when you go to one. In my experience, I have learned that a dealership's reputation is everything, check out some reviews. Quality dealerships will always show you their service department, introduce you to managers, take time to carefully explain all the features and options of a vehicle, and, lastly make sure you fully understand all your numbers and credit options.

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LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]