Lenders team for online auto loans
Looking to automate the car loan process, New York-based J.P. Morgan Chase & Co., Fort Worth, Texas-based AmeriCredit Corp., and San Francisco-based Wells Fargo & Co. said they're launching a new lending Web site called DealerTrack.com Inc. The site will be run as an independent business and boasts 4,000 auto dealerships as members of its network. The idea is for auto dealers to submit online credit applications to multiple lenders and quickly come back with loans for their customers.
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