Each month, Auto Trader attracts 35 million monthly cross-platform visits on its sites, claimed to be more than four times higher than its nearest competitor and covers 80% of franchise and independent UK retailer forecourts.

It also claims to account for 85% of all minutes spent on vehicle classified advertising websites.

For Nisbet, this level of dominance is clear evidence that there is room for an online rival to take a profitable slice of the market with a different, free-to-market offering.

He says: “It seems that people are not generally enamoured with the dominant player in the market, charging a significant sum for what should be free or at least lower cost.”

“The trade is squeezed and we are getting huge support up to manufacturer level.”

The broad range of support for the site includes vital volume sources of used cars from the fleet industry, including the support of leasing companies, according to the firm.

By the time the site goes live, it is expected to have more than 400,000 vehicles available.

The build of the website and addition of stock will take substantial investment, but Nisbet will be making use of personnel already in place from his other successful digital ventures.

He said: “We have lots of experience and resource, so we are not starting from scratch. We have access to staff including technical support and developers who are working on the site, both in the UK and abroad.”

This resource will include initial support to ensure the website works with vehicle traders’ and other suppliers’ systems and to assist them with the initial set-up of vehicles on the website.

They are also working with the partners who will drive revenues for the business including fine-tuning licence arrangements and completing services to provide to buyers, including history checks, which are all part of the free service.

The final strands are still being completed and Nisbet promises ‘a few surprises’, but he is adamant that the site will be 100% complete before its launch later this year.

He said: “Everything should be completed pre-launch, it will be the full site and by the end of the year it will be fully mature.”

A countdown clock is already running on the firm’s website holding page and when it stops, a new era of online car sales could begin.