Credit standards · Auto loan credit standards
SANTANDER DRIVE AUTO RECEIVABLES TRUST
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.
1,553 loans analysed, sampled systematically (every 20th record) from 31,067 records. CIK 1934902. Source filing.
Distributions
| Measure | 5th | 25th | Median | 75th | 95th |
|---|---|---|---|---|---|
| Credit score | 501 | 554 | 593 | 629 | 719 |
| APR | 6.7% | 11.0% | 15.1% | 19.4% | 24.0% |
| Payment-to-income | 3.9% | 7.4% | 10.9% | 14.4% | 19.0% |
| Term (months) | 60 | 72 | 72 | 72 | 75 |
| Loan-to-value | 67.8% | 94.6% | 108.0% | 120.0% | 137.3% |
| Vehicle model year | 2014 | 2017 | 2019 | 2020 | 2022 |
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 | 70 | 4.5% | 14.7% |
| subprime | 501-600 | 725 | 46.7% | 16.0% |
| near prime | 601-660 | 431 | 27.8% | 13.9% |
| prime | 661-780 | 167 | 10.8% | 12.1% |
| super prime | 781-900 | 25 | 1.6% | 6.7% |
Pool composition
- Originators: SC (1,553)
- Used vehicles: 80.6%
- Co-obligor present: 28.7%
- Zero-APR loans: 0.2%
- States present: 50
- Top states: TX (245), FL (176), CA (148), PA (86), OH (85), MD (67), NC (65), NY (63)
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.