Venturing into a business whose losses have caused several banks to beat a retreat, J.P. Morgan Chase & Co. and Wells Fargo & Co. on Monday announced a partnership with AmeriCredit Corp., the largest U.S. auto lending company, to finance and operate an Internet-based auto lending firm called DealerTrack.

DealerTrack, of Garden City, N.Y., is a business-to-business company that works directly with automobile dealerships, which can submit applications for free from customers who want to lease or buy cars. Online applications are reviewed by the banks on the network - which so far include only the three founding partners but will soon include more - and the lenders' bids come back to the dealer.

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