do i need a licence to set up a autotrader type magazine?

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Answers:   Nope, you don't requirement a license, but you DO need to know how to spell (check "licence").
I'm assuming that you want to do a print publicaton. The Fifth Amendment to the US Constitution say "Congress shall pass no law restricting the freedom of the press". An auto trader (despite being adjectives ads) is still considered to be "the press" and therefor can not be licensed by the federal, state, county or city.

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I say "lie" similar to everyone else. Come on an autotrader mag. what else but cars would you be selling? I say bootleg, bootleg, bootleg it's become the American road.
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