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Santander (DRIVE) DRIVE

60+ day delinquency 9.62% of loans, Sep 2026
Annualized net loss 8.85% of average pool balance, Sep 2026
First-time repossessions 1.11% of loans, Sep 2026
Recovered within 12 months of default 46.2% (±0.4 pts) of balance, defaults Jan 2025 – Dec 2025
Deals 4 active · 17 wound down · data through Sep 2026

Santander's loan-level file flags about 85% of the repossessions its servicer reports each month — a steady ratio whose cause public data cannot pin down. Recovery cash is scaled to the servicer report's net proceeds (its loan-level data records it before some costs). Loans without a consumer credit score are excluded.

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Deals on this shelf ·

Deal		At pricing			Hard CE at pricing · % of pool				Latest reported · Oct 2026
Deal	Closed	Size	Credit ScoreWA	APRWA	Subbelow AAA	Reserve	OCinitial	Hard CEtotal	60+ DQ% of loans	CNL% of orig. pool	Pool Factor
2025-2PSR	Sep 24, 2025	$1.60B	585	19.76%	32.85%	1.00%	14.50%	48.35%	7.49%	4.94%	0.655
2025-1PSR	May 28, 2025	$1.26B	586	19.81%	33.50%	1.00%	17.50%	52.00%	10.07%	7.03%	0.566
2024-2PSR	Sep 25, 2024	$1.71B	586	19.73%	30.25%	1.00%	22.00%	53.25%	10.37%	9.53%	0.405
2024-1PSR	Feb 21, 2024	$1.10B	586	19.84%	22.25%	1.00%	33.10%	56.35%	10.57%	12.24%	0.277
Show 17 wound-down ▾ · right-hand columns: each deal's final servicer report
2021-3	Nov 17, 2021	$1.28B	575	18.32%	33.75%	1.00%	16.25%	51.00%	13.50%	15.11%	0.051Sep 2026
2021-2	Aug 25, 2021	$1.80B	575	18.29%	35.80%	1.00%	16.30%	53.10%	12.80%	11.64%	0.095Sep 2025
2021-1	Apr 21, 2021	$1.60B	583	19.02%	36.10%	1.00%	17.35%	54.45%	9.25%	8.31%	0.096Apr 2025
2020-2	Jun 17, 2020	$943M	583	18.98%	28.65%	2.00%	25.85%	56.50%	7.26%	6.20%	0.099Jun 2024
2020-1	Jan 22, 2020	$1.06B	582	18.96%	35.05%	1.00%	18.65%	54.70%	7.30%	8.44%	0.095Apr 2024
2019-4	Sep 18, 2019	$1.20B	581	18.95%	34.85%	1.00%	19.00%	54.85%	8.08%	8.40%	0.098Nov 2023
2019-3	Jun 19, 2019	$1.21B	587	19.05%	31.45%	1.00%	22.15%	54.60%	7.27%	9.13%	0.095Sep 2023
2019-2	Mar 20, 2019	$1.02B	579	18.99%	31.50%	1.00%	22.30%	54.80%	5.66%	9.96%	0.097May 2023
2019-1	Jan 23, 2019	$1.03B	584	18.88%	33.90%	1.00%	19.60%	54.50%	6.67%	10.37%	0.099Feb 2023
2018-5	Nov 20, 2018	$1.01B	577	18.95%	32.50%	1.00%	22.30%	55.80%	7.46%	11.54%	0.098Jan 2023
2018-4	Sep 19, 2018	$1.26B	577	18.96%	38.40%	1.00%	22.30%	61.70%	7.21%	12.31%	0.097Oct 2022
2018-3	Jul 24, 2018	$1.36B	581	19.11%	43.15%	1.00%	17.40%	61.55%	7.55%	13.18%	0.097Sep 2022
2018-2	May 23, 2018	$1.34B	574	18.95%	45.05%	1.00%	17.50%	63.55%	7.60%	12.79%	0.097Aug 2022
2018-1	Feb 21, 2018	$938M	572	19.02%	45.00%	1.00%	19.25%	65.25%	5.55%	12.42%	0.097Apr 2022
2017-3	Oct 25, 2017	$1.25B	566	19.05%	45.60%	1.00%	18.70%	65.30%	6.37%	14.82%	0.097Dec 2021
2017-2	Jul 31, 2017	$948M	568	19.07%	44.65%	1.00%	19.70%	65.35%	6.21%	15.50%	0.095Nov 2021
2017-1	Jun 28, 2017	$1.11B	570	19.14%	44.65%	1.00%	19.70%	65.35%	5.68%	16.11%	0.098Sep 2021

At pricing — terms from the deal's prospectus and pricing supplement; they do not update.

Credit Score — weighted-average obligor credit score of the pool at cut-off, as stated in the prospectus.

APR — the pool's weighted-average APR at cut-off, as its prospectus states it (the summary and the pool table agree); for deals before 2017, as the issuer's later prospectuses print it.

Hard CE — initial hard credit enhancement for the senior notes, the total the rating agencies quote: Sub (all rated classes below the AAA notes; an unrated residual Class N is not subordination) + Reserve (the reserve fund at closing) + OC (overcollateralization at closing, net of any yield supplement), each as a % of the initial pool balance less any yield supplement — the adjusted pool the issuers and rating agencies measure enhancement against. Excess spread is not included. The total is blank where a part is not known.

Latest reported — from the most recent monthly servicer report (SEC Form 10-D). 60+ DQ is the share of loans 60+ days past due in the ABS-EE loan tape at its latest period; CNL is cumulative net loss as a % of the original pool balance; Pool Factor is the current pool balance ÷ original.

PSR marks a deal with a presale report (2024 deals onward); it opens from the deal name.

Hard CE for deals priced 2017–2020 is read from each deal's final prospectus, every part checked against its first servicer report or a second figure in the prospectus. Those prospectuses do not print ratings, so the AAA notes are the Class A notes — the same classes as on every deal since 2021.