<PAGE>   1

                                                                   EXHIBIT 10.18


[*] Confidential Treatment has been requested for certain portions of this
exhibit.

               CONTENT LICENSE AND CHANNEL SPONSORSHIP TERM SHEET

This agreement ("Agreement") is entered into as of the 12th day of September,
1997 ("Effective Date"), by and between Excite, Inc., a California corporation,
located at 555 Broadway, Redwood City, California 94063 ("Excite"), and
Auto-By-Tel, a California corporation, located at 18872 MacArthur Blvd, #200,
Irvine, California, 92612-1400 ("Auto-By-Tel").

                                    RECITALS

A.       Excite maintains a site on the Internet at http://www.excite.com and
         owns and/or manages related Web sites worldwide (collectively, the
         "Excite Network") which, among other things, allow its users to search
         for and access content and other sites on the Internet.

B.       Within the Excite Network, Excite currently organizes certain content
         into topical channels, including the Excite Automotive Channel.

C.       Excite also maintains and/or manages certain Web pages which may be
         delivered to users via email, desktop "channels" or Internet "push"
         technologies (collectively, "Broadcast Pages") which may incorporate
         content supplied to Excite by third parties for the purpose of
         providing value to Excite users and providing access to the content,
         products and/or services of such third parties.

D.       Auto-By-Tel owns or has the right to distribute certain content
         relating to online automobile buying and maintains a related site on
         the Internet at http://www.autobytel.com (the "Auto-By-Tel Site") for
         which it wishes to generate increased traffic.

E.       Auto-By-Tel wishes to promote use of the Auto-By-Tel Site to Excite's
         users by sponsoring the Excite Automotive Channel and purchasing banner
         advertising on the Excite Network.

Therefore, the parties agree as follows:

1.       SPONSORSHIP OF EXCITE AUTOMOTIVE CHANNEL

         a)       Auto-By-Tel will be the exclusive online automobile buying
                  service sponsor of the Excite Automotive Channel, located at
                  http://www.excite.com.

         b)       During the term of the Agreement, Excite will not display any
                  banner advertising or promotional placements for any of
                  Auto-By-Tel's direct competitors (listed in Exhibit C) in the
                  Excite Automotive Channel. Not more than once per quarter,
                  Auto-By-Tel may update this list of competitors.

<PAGE>   2

         c)       In the event that Excite intends to enter into an agreement
                  with a third party with respect to sponsorship of the Excite
                  Automotive Channel before the expiration of the term of the
                  Agreement, Excite will deliver to Auto-By-Tel a written notice
                  describing the relevant opportunity. Although Excite will not
                  be required to disclose any information in violation of any
                  nondisclosure agreement between Excite and any third party,
                  the notice will include information sufficient to permit
                  Auto-By-Tel to evaluate the requirements for meeting the
                  competing offer for sponsorship of the Excite Automotive
                  Channel and to formulate a meaningful response. Auto-By-Tel
                  will have ten (10) days after receipt of such written notice
                  to provide notice to Excite that it is prepared to enter into
                  an agreement with Excite on the same terms and conditions as
                  Excite proposes to accept from such third party. Excite and
                  Auto-By-Tel will then promptly commence good faith
                  negotiations to conclude the agreement. If Auto-By-Tel rejects
                  said offer or fails to notify Excite of its acceptance within
                  the ten (10) day period, Excite shall have the right to enter
                  into the agreement with such third party, provided the terms
                  and conditions of the agreement are not less favorable to
                  Excite than previously offered by Auto-By-Tel.

2.       MARKETING AND PROMOTION

         a)       Excite will feature Auto-By-Tel in the Auto Buying Services
                  department of the Excite Automotive Channel for the term of
                  the Agreement.

         b)       Excite will conduct three (3) two-week car give away
                  promotions on the Excite home page promoting Auto-By-Tel
                  during the first year of the Agreement, with one promotion
                  coinciding with the launch of Auto-By-Tel's sponsorship and
                  the other two to be mutually scheduled. Excite will conduct
                  similar promotions in years two and three of the Agreement.
                  Auto-By-Tel will provide the cars to be given away through
                  these promotions.

         c)       Auto-By-Tel will purchase banner advertising on the Excite
                  Network in Year One of the Agreement in the amounts described
                  in Exhibit A. Auto-By-Tel will purchase banner advertising on
                  the Excite Network in Year Two and Year Three in amounts
                  substantially comparable to the amounts agreed upon in Exhibit
                  B.

         d)       Excite will deliver a minimum of [*] impressions of
                  Auto-By-Tel promotional placements during the term of the
                  Agreement, including the placement in the Auto Buying Services
                  department of the Excite Automotive Channel, the car give-away
                  promotions and the banner advertisements described above, the
                  display of Auto-By-Tel's content described below and other
                  promotional placements that may be determined by the parties.

         e)       Neither party will make any public statement, press release or
                  other announcement relating to the terms of or existence of
                  this Agreement without the prior written approval of the
                  other. Notwithstanding the foregoing, Auto-By-Tel hereby
                  grants to Excite the right to issue an initial press release,
                  the


                                       2
<PAGE>   3

                  timing and wording of which will be subject to Auto-By-Tel's
                  reasonable approval, regarding the relationship between Excite
                  and Auto-By-Tel.

3.       CONTENT PROVIDED TO EXCITE

         a)       Auto-By-Tel will provide to Excite mutually agreed upon
                  content relating to online automobile buying such as AutoSite
                  and The Bank Rate Monitor (the "Content") which is described
                  in Exhibit D. Excite may display the Content in the Excite
                  Automotive Channel and in other locations in the Excite
                  Network. Excite will determine the "look and feel" of the
                  Excite Automotive Channel and the Excite Network.

         b)       Auto-By-Tel and Excite will determine mutually agreeable
                  methods for the transmission and incorporation of updates to
                  the Content. Other than updates to the Content or revisions as
                  needed to reflect changes to Auto-By-Tel's name and/or brand,
                  Auto-By-Tel will not alter the Content without Excite's prior
                  consent.

         c)       Auto-By-Tel will have sole responsibility for providing, at
                  its expense, the Content to Excite.

         d)       Reasonable excerpts or portions of the Content may be
                  incorporated into "Broadcast Pages" delivered by Excite via
                  email, desktop "channels" or Internet "push" technologies.
                  Excite will determine the "look and feel" of the Broadcast
                  Pages.

4.       SPONSORSHIP AND ADVERTISING FEES AND REVENUE SHARING

         a)       A set-up fee of [*] will be due to Excite upon execution of
                  the Agreement as compensation for costs of initiating access
                  to the Excite Network, programming costs associated with the
                  incorporation of the Content into the Excite Network, set-up
                  costs and other expenses associated with Excite's initiation
                  of the links, placements, advertisements and promotions
                  contemplated by this Agreement.

         b)       Separate and apart from the set-up fee, sponsorship and
                  advertising fees will be due to Excite as follows:

                                        Year 1     Year 2     Year 3
                                        ------     ------     ------

                  Sponsorship             [*]        [*]        [*]
                  Banners - US            [*]        [*]        [*]
                  Banners - WebTV/
                  International           [*]        [*]        [*]

                  Total                   [*]        [*]        [*]

                  In the event that Excite is unable to deliver the agreed-upon
                  amount of banner advertising in the WebTV and/or International
                  rotations, Excite will provide the


                                       3
<PAGE>   4

                  undelivered amounts in rotation on its primary Web site.

         c)       Auto-By-Tel will pay Excite a bounty per unique purchase
                  request submitted by users referred to the Auto-By-Tel Site
                  from the Excite Network of [*] for the first [*] unique
                  purchase requests in each year of the Agreement, [*] for the
                  second [*] unique purchase requests in each year of the
                  Agreement and [*] for each unique purchase request in excess
                  of [*] in each year of the Agreement. [*]

         d)       If the number of unique purchase requests submitted by users
                  referred directly to the Auto-By-Tel Site from the Excite
                  Network in any year of the Agreement exceeds [*], the bounty
                  increases to [*] for the first [*] unique purchase requests in
                  the following year of the Agreement, [*] for the second [*]
                  unique purchase requests in the following year of the
                  Agreement and [*] for each unique purchase request in excess
                  of [*] in the following year of the Agreement.

         e)       The set-up, sponsorship and advertising fees are gross amounts
                  and do not reflect any agency commissions to be paid by
                  Auto-By-Tel. The bounty payment amounts are net of any agency
                  commissions to be paid by Auto-By-Tel.

         f)       Sponsorship and advertising fees will be paid in twelve equal
                  monthly installments commencing on the execution of the
                  Agreement. Bounty payments will be made quarterly. The parties
                  will conduct annual reviews to ensure accurate payments and
                  accounting.

         g)       Auto-By-Tel will maintain accurate records with respect to the
                  calculation of all payments due under this Agreement. Excite
                  may, upon no less than thirty (30) days prior written notice
                  to Auto-By-Tel, cause an independent Certified Public
                  Accountant to inspect the records of Auto-By-Tel reasonably
                  related to the calculation of such payments during
                  Auto-By-Tel's normal business hours. The fees charged by such
                  Certified Public Accountant in connection with the inspection
                  will be paid by Excite unless the payments made to Excite are
                  determined to have been less than ninety-five percent (95%) of
                  the payment owed to Excite, in which case Auto-By-Tel will be
                  responsible for the payment of the reasonable fees for such
                  inspection.

5.       CUSTOMER INFORMATION

         a)       Auto-By-Tel will retain all rights to customers acquired
                  pursuant to the Agreement.

         b)       Once per quarter, in connection with Auto-By-Tel's bounty
                  payments, Auto-By-Tel will provide Excite with all of the
                  customer information it acquires through the purchase requests
                  submitted by users referred directly to Auto-By-Tel's Web site
                  from the Excite Network. This customer information will be
                  deemed to be the joint property of the parties. Under no
                  circumstances will Excite sell, provide or transfer this
                  customer information to any third party.


                                       4
<PAGE>   5

6.       OPERATIONAL SUPPORT

         a)       Excite will provide, at its sole expense, Account Management
                  support of the Auto Buying Services department of the Excite
                  Automotive Channel sufficient to support for the level of
                  sales and marketing contemplated by the Agreement.

         b)       The parties will hold formal reviews on a monthly basis to
                  maintain anticipated results according to the sponsorship
                  objectives. Advertising and sponsorship placements will be
                  adjusted monthly by mutual agreement.

7.       TERM AND TERMINATION

         a)       The Agreement will have an initial term of three (3) years.

         b)       Auto-By-Tel will have the option to cancel the Agreement if,
                  at the end of the first year of the Agreement, users referred
                  to the Auto-By-Tel Site from the Excite Network do not submit
                  [*] unique purchase requests.

         c)       Excite will have the option to cancel the Agreement if, at the
                  end of the second year under the term of the Agreement, Excite
                  has not received an aggregate amount of [*] in Bounty.

         d)       Either party may terminate this Agreement if the other party
                  materially breaches its obligations hereunder and such breach
                  remains uncured for thirty (30) days following the notice to
                  the breaching party of the breach, with the following
                  exceptions:

                  (i)      In the event of three or more errors, failures or
                           outages of the Content in any thirty (30) day period,
                           Excite may elect to immediately terminate this
                           Agreement upon written notice to Auto-By-Tel and
                           enter into an other arrangements for the acquisition
                           of similar content; or

                  (ii)     Auto-By-Tel will ensure that the Content will at all
                           times be at least comparable to any other source of
                           similar topical content available on the Internet in
                           terms of the following factors, taken as a whole: (i)
                           breadth and depth of coverage, (ii) timeliness of
                           content updates and (iii) reputation and ranking
                           based on a cross-section of third party reviewers in
                           terms of features, functionality, quality and other
                           qualitative factors. In the event that Auto-By-Tel
                           fails to meet these quality criteria, Excite may
                           terminate this agreement on thirty (30) days written
                           notice and enter into an other arrangements for the
                           acquisition of similar content.

         e)       All payments that have accrued prior to the termination or
                  expiration of this Agreement will be payable in full within
                  thirty (30) days thereof.


                                       5
<PAGE>   6

         f)       The provisions of Section 10 (Confidentiality), Section 11
                  (Warranty and Indemnity), Section 12 (Limitation of Liability)
                  and Section 13 (Dispute Resolution) will survive any
                  termination or expiration of this Agreement.

8.       CONTENT OWNERSHIP AND LICENSE

         a)       Auto-By-Tel will retain all right, title and interest in and
                  to the Content worldwide (including, but not limited to,
                  ownership of all copyrights and other intellectual property
                  rights therein). Subject to the terms and conditions of this
                  Agreement, Auto-By-Tel hereby grants to Excite a royalty-free,
                  nonexclusive, worldwide license to use, reproduce, distribute,
                  transmit and publicly display the Content in accordance with
                  this Agreement.

         b)       Excite will retain all right, title, and interest in and to
                  the Excite Network and the Broadcast Pages worldwide
                  (including, but not limited to, ownership of all copyrights,
                  look and feel and other intellectual property rights therein).

9.       TRADEMARK OWNERSHIP AND LICENSE

         a)       Auto-By-Tel will retain all right, title and interest in and
                  to its trademarks, service marks and trade names worldwide,
                  subject to the limited license granted to Excite hereunder.

         b)       Excite will retain all right, title and interest in and to its
                  trademarks, service marks and trade names worldwide, subject
                  to the limited license granted to Auto-By-Tel hereunder.

         c)       Each party hereby grants to the other a non-exclusive, limited
                  license to use its trademarks, service marks or trade names
                  only as specifically described in this Agreement. All such use
                  shall be in accordance with each party's reasonable policies
                  regarding advertising and trademark usage as established from
                  time to time.

         d)       Upon the expiration or termination of this Agreement, each
                  party will cease using the trademarks, service marks and/or
                  trade names of the other except:

                  i)       As the parties may agree in writing; or

                  ii)      To the extent permitted by applicable law.

10.      CONFIDENTIALITY

         a)       For the purposes of this Agreement, "Confidential Information"
                  means information about the disclosing party's (or its
                  suppliers') business or activities that is proprietary and
                  confidential, which shall include all business, financial,
                  technical and other information of a party marked or
                  designated by such party as "confidential" or "proprietary";
                  or information which, by the nature of the


                                       6
<PAGE>   7

                  circumstances surrounding the disclosure, ought in good faith
                  to be treated as confidential.

         b)       Confidential Information will not include information that (i)
                  is in or enters the public domain without breach of this
                  Agreement, (ii) the receiving party lawfully receives from a
                  third party without restriction on disclosure and without
                  breach of a nondisclosure obligation or (iii) the receiving
                  party knew prior to receiving such information from the
                  disclosing party or develops independently.

         c)       Each party agrees (i) that it will not disclose to any third
                  party or use any Confidential Information disclosed to it by
                  the other except as expressly permitted in this Agreement and
                  (ii) that it will take all reasonable measures to maintain the
                  confidentiality of all Confidential Information of the other
                  party in its possession or control, which will in no event be
                  less than the measures it uses to maintain the confidentiality
                  of its own information of similar importance.

         d)       Notwithstanding the foregoing, each party may disclose
                  Confidential Information (i) to the extent required by a court
                  of competent jurisdiction or other governmental authority or
                  otherwise as required by law or (ii) on a "need-to-know" basis
                  under an obligation of confidentiality to its legal counsel,
                  accountants, banks and other financing sources and their
                  advisors.

         e)       The information contained in the Usage Reports provided by
                  each party hereunder will be deemed to be the Confidential
                  Information of the disclosing party.

         f)       The terms and conditions of this Agreement will be deemed to
                  be the Confidential Information of each party and will not be
                  disclosed without the written consent of the other party.

11.      WARRANTY AND INDEMNITY

         a)       Auto-By-Tel warrants that it owns, or has obtained the right
                  to distribute and make available as specified in this
                  Agreement, any and all content provided to Excite or made
                  available to third parties in connection with this Agreement.

         b)       Auto-By-Tel warrants that the Content will comply with the
                  description and technical specifications contained in Exhibit
                  D.

         c)       Auto-By-Tel will indemnify, defend and hold harmless Excite,
                  its affiliates, officers, directors, employees, consultants
                  and agents from any and all third party claims, liability,
                  damages and/or costs (including, but not limited to, attorneys
                  fees) arising from:

                  i)       The breach of any warranty, representation or
                           covenant in this Agreement;


                                       7
<PAGE>   8

                  ii)      Any claim that the Content infringes or violates any
                           third party's copyright, patent, trade secret,
                           trademark, right of publicity or right of privacy or
                           contains any defamatory content; or

                  iii)     Any claim arising from content displayed on the
                           Auto-By-Tel Site.

                  Excite will promptly notify Auto-By-Tel of any and all such
                  claims and will reasonably cooperate with Auto-By-Tel with the
                  defense and/or settlement thereof; provided that, if any
                  settlement requires an affirmative obligation of, results in
                  any ongoing liability to or prejudices or detrimentally
                  impacts Excite in any way and such obligation, liability,
                  prejudice or impact can reasonably be expected to be material,
                  then such settlement shall require Excite's written consent
                  (not to be unreasonably withheld or delayed) and Excite may
                  have its own counsel in attendance at all proceedings and
                  substantive negotiations relating to such claim.

         d)       EXCEPT AS SPECIFIED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY
                  WARRANTY IN CONNECTION WITH THE SUBJECT MATTER OF THIS
                  AGREEMENT AND HEREBY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES,
                  INCLUDING ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND
                  FITNESS FOR A PARTICULAR PURPOSE REGARDING SUCH SUBJECT
                  MATTER.

12.      LIMITATION OF LIABILITY

EXCEPT UNDER SECTION 11(c), IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER
FOR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, WHETHER BASED ON BREACH OF
CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, WHETHER OR NOT THAT PARTY
HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. THE LIABILITY OF EXCITE FOR
DAMAGES OR ALLEGED DAMAGES HEREUNDER, WHETHER IN CONTRACT, TORT OR ANY OTHER
LEGAL THEORY, IS LIMITED TO, AND WILL NOT EXCEED, THE AMOUNTS ACTUALLY PAID BY
AUTO-BY-TEL TO EXCITE HEREUNDER.

13.      DISPUTE RESOLUTION

         a)       The parties agree that any breach of either of the parties'
                  obligations regarding trademarks, service marks or trade names
                  and/or confidentiality would result in irreparable injury for
                  which there is no adequate remedy at law. Therefore, in the
                  event of any breach or threatened breach of a party's
                  obligations regarding trademarks, service marks or trade names
                  or confidentiality, the aggrieved party will be entitled to
                  seek equitable relief in addition to its other available legal
                  remedies in a court of competent jurisdiction. For the
                  purposes of this section only, the parties consent to venue in
                  either the state courts of the county in which Excite has its
                  principal place of business or the United States District
                  Court for the Northern District of California.


                                       8
<PAGE>   9

         b)       In the event of disputes between the parties arising from or
                  concerning in any manner the subject matter of this Agreement,
                  other than disputes arising from or concerning trademarks,
                  service marks or trade names and/or confidentiality, the
                  parties will first attempt to resolve the dispute(s) through
                  good faith negotiation. In the event that the dispute(s)
                  cannot be resolved through good faith negotiation, the parties
                  will refer the dispute(s) to a mutually acceptable mediator
                  for hearing in the county in which Excite has its principal
                  place of business.

         c)       In the event that disputes between the parties arising from or
                  concerning in any manner the subject matter of this Agreement,
                  other than disputes arising from or concerning trademarks,
                  service marks or trade names and/or confidentiality, cannot be
                  resolved through good faith negotiation and mediation, the
                  parties will refer the dispute(s) to the American Arbitration
                  Association for resolution through binding arbitration by a
                  single arbitrator pursuant to the American Arbitration
                  Association's rules applicable to commercial disputes. The
                  arbitration will be held in the county in which Excite has its
                  principal place of business.

14.      GENERAL

         a)       Assignment. Neither party may assign this Agreement, in whole
                  or in part, without the other party's written consent (which
                  will not be unreasonably withheld), except that no such
                  consent will be required in connection with a merger,
                  reorganization or sale of all, or substantially all, of such
                  party's assets. Any attempt to assign this Agreement other
                  than as permitted above will be null and void.

         b)       Governing Law. This Agreement will be governed by and
                  construed in accordance with the laws of the State of
                  California, notwithstanding the actual state or country of
                  residence or incorporation of Auto-By-Tel.

         c)       Notice. Any notice under this Agreement will be in writing and
                  delivered by personal delivery, express courier, confirmed
                  facsimile, confirmed email or certified or registered mail,
                  return receipt requested, and will be deemed given upon
                  personal delivery, one (1) day after deposit with express
                  courier, upon confirmation of receipt of facsimile or email or
                  five (5) days after deposit in the mail. Notices will be sent
                  to a party at its address set forth below or such other
                  address as that party may specify in writing pursuant to this
                  Section.

         d)       No Agency. The parties are independent contractors and will
                  have no power or authority to assume or create any obligation
                  or responsibility on behalf of each other. This Agreement will
                  not be construed to create or imply any partnership, agency or
                  joint venture.

         e)       Force Majeure. Any delay in or failure of performance by
                  either party under this Agreement will not be considered a
                  breach of this Agreement and will be


                                       9
<PAGE>   10

                  excused to the extent caused by any occurrence beyond the
                  reasonable control of such party including, but not limited
                  to, acts of God, power outages and governmental restrictions.

         f)       Severability. In the event that any of the provisions of this
                  Agreement are held by to be unenforceable by a court or
                  arbitrator, the remaining portions of the Agreement will
                  remain in full force and effect.

         g)       Entire Agreement. This Agreement is the complete and exclusive
                  agreement between the parties with respect to the subject
                  matter hereof, superseding any prior agreements and
                  communications (both written and oral) regarding such subject
                  matter. This Agreement may only be modified, or any rights
                  under it waived, by a written document executed by both
                  parties.



Auto-By-Tel                             Excite, Inc.

By:     /s/ Mark W. Lorimer             By:     /s/ Robert C. Hood
      ---------------------------             ----------------------------------

Name:       Mark W. Lorimer             Name:       Robert C. Hood
      ---------------------------             ----------------------------------

Title:                                  Title:      EVP - CFO
      ---------------------------             ----------------------------------


                                       10