It's very difficult to compete with the big names, but even .01% of a huge market adds up to something significant.
edit I should also say I started this a LONG time ago, so I have a long tail SEO advantage. I wouldn't envy anyone trying to start a used car site today.
How much did that discourage you in the beginning (the thought of it being extremely hard to compete w/the big names)?
I ask b/c I've been developing an app of my own and this is one of the doubts I have. I love building stuff too much to let that stop me, but it's still something I think about from time to time.
Well the beginning was 1995, so I was competing with Newspapers and Weekly Magazines more then websites. People would refuse to let me list their car for free because they were scared of the Internet.
edit I should also say I started this a LONG time ago, so I have a long tail SEO advantage. I wouldn't envy anyone trying to start a used car site today.