Credit standards · Auto loan credit standards
SANTANDER DRIVE AUTO RECEIVABLES LLC
Summary statistics computed from the Form ABS-EE asset-level file for this shelf, filed 2026-08-17. Regulation AB II requires this loan-level data for registered public auto-loan securitizations, so every figure below is a statement about a named, dated SEC filing — not about a company.
1,274 loans analysed, sampled systematically (every 20th record) from 25,497 records. CIK 1383094. Source filing.
Distributions
| Measure | 5th | 25th | Median | 75th | 95th |
|---|---|---|---|---|---|
| Credit score | 486 | 536 | 572 | 604 | 658 |
| APR | 12.8% | 16.5% | 18.7% | 21.9% | 25.4% |
| Payment-to-income | 5.7% | 9.2% | 12.1% | 15.3% | 18.1% |
| Term (months) | 60 | 72 | 72 | 72 | 75 |
| Loan-to-value | 84.8% | 99.9% | 111.5% | 122.1% | 136.0% |
| Vehicle model year | 2014 | 2016 | 2018 | 2019 | 2021 |
LTV is not comparable across shelves for this filing: the vehicle value source is filer-specific (codes 98, 1, 3), and the code meanings are not asserted here.
By credit score band
| Band | Range | Loans | Share | Median APR |
|---|---|---|---|---|
| deep subprime | 300-500 | 92 | 7.2% | 19.9% |
| subprime | 501-600 | 689 | 54.1% | 19.2% |
| near prime | 601-660 | 248 | 19.5% | 17.5% |
| prime | 661-780 | 49 | 3.8% | 16.6% |
Pool composition
- Originators: SC (1,274)
- Used vehicles: 85.2%
- Co-obligor present: 26.4%
- Zero-APR loans: 0.0%
- States present: 48
- Top states: TX (202), FL (135), CA (90), PA (83), GA (73), OH (67), NC (58), NY (44)
What this is not
Not underwriting guidelines. Not a comparison of lenders. Not a description of any lender's programs or current practices. Each row describes one securitized pool, as reported in one filing, on one date - a sponsor-selected subset of what an originator funded. Issuers securitizing privately under Rule 144A file no asset-level data and are absent by construction.
Income and employment verification appear in the file only as raw Schedule AL codes (2, 3 and 2, 1, 3). Their meanings are not asserted here — the filer's codebook is the only authority for what a code means, and this shelf published 42 codebook fields.
underwritingIndicator is recorded upstream but omitted here: filers apply it inconsistently and it cannot be read as an exception rate. Verification codes are raw and are not comparable across filers. LTV carries a per-shelf comparability flag.
Method: how these figures are computed. Data generated 2026-08-25 from the filing above.