UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

☒	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the fiscal year ended December 31, ~~2017~~2018.

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from to .

SANTANDER DRIVE AUTO RECEIVABLES TRUST 2015-3

(Exact name of issuing entity as specified in its charter)

Commission file number of the issuing entity: 333-192513-07

Central Index Key Number of issuing entity: 0001643202

SANTANDER DRIVE AUTO RECEIVABLES LLC

(Exact name of depositor as specified in its charter)

Commission file number of depositor: 333-192513

Central Index Key Number of depositor: 0001383094

SANTANDER CONSUMER USA INC.

(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor: 0001540151

Delaware

(State or other jurisdiction of incorporation or organization of the issuing entity)

37-6595824

(I.R.S. Employer Identification No. of the issuing entity)

c/o Santander Drive Auto Receivables LLC

1601 Elm Street, Suite 800

Dallas, Texas 75201

(Address of principal executive offices)

(214) 292-1930

(Telephone number, including area code)

Securities Registered Pursuant to Section 12 (b) of the Securities Exchange Act of 1934: None

Securities Registered Pursuant to Section 12 (g) of the Securities Exchange Act of 1934: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark if the disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein and will not be contained, to the best of the Registrants’ knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☒

Indicate by check ~~mark~~ mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer, a smaller reporting company, or an emerging growth company. See ~~definition~~the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and ~~large~~“emerging ~~accelerated~~growth ~~filer~~company” in Rule 12b-2 of the Exchange Act. ~~(Check one):~~

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ ~~(Do not check if a smaller reporting company)~~ Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter. Not applicable.

List hereunder the following documents if incorporated by reference and the part of the Form 10-K (e.g. Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980). None.

PART I

The following items have been omitted in accordance with General Instruction J to Form 10-K:

Item 1: Business


Item 1:				Business
Item 1A:				Risk Factors
Item 2:				Properties
Item 3:				Legal Proceedings
Item 4:				Mine Safety Disclosures

Item ~~1A:~~1B. ~~Risk~~Unresolved ~~Factors~~Staff Comments.

~~Item~~Nothing 2:to ~~Properties~~report.

~~Item~~Substitute 3:information provided ~~Legal~~in ~~Proceedings~~accordance with General Instruction J to Form 10-K:

Item 1112(b) 4:of ~~Mine~~Regulation ~~Safety~~AB. Significant ~~Disclosures~~Obligors of Pool Assets (Financial Information).

~~Item~~Nothing ~~1B.~~to ~~Unresolved Staff Comments~~report.

~~Nothing~~Item 1114(b)(2) toof ~~report~~Regulation AB. Credit Enhancement and Other Support, Except for Certain Derivatives Instruments (Information Regarding Significant Enhancement Providers).

~~Substitute~~Nothing ~~information provided in accordance with General Instruction J~~ to ~~Form~~report. ~~10-K:~~

Item ~~1112~~1115(b) of Regulation AB. ~~Significant~~Certain ~~Obligors~~Derivatives ofInstruments ~~Pool Assets~~ (Financial Information).

Nothing to report.

Item ~~1114(b)(2)~~1117 of Regulation AB. ~~Credit~~Legal ~~Enhancement and Other Support, Except for Certain Derivatives Instruments (Information Regarding Significant Enhancement Providers)~~Proceedings.

~~Nothing~~Deutsche toBank ~~report.~~Trust Company Americas, as the indenture trustee, has provided the following information:

~~Item 1115~~Deutsche Bank Trust Company Americas (b“DBTCA”) ~~of Regulation~~and ~~AB.~~Deutsche ~~Certain~~Bank ~~Derivatives~~National ~~Instruments~~Trust ~~(Financial~~Company ~~Information~~(“DBNTC”) have been sued by investors in civil litigation concerning their role as trustees of certain RMBS trusts.

~~Nothing~~On June 18, 2014, a group of investors, including funds managed by Blackrock Advisors, LLC, PIMCO-Advisors, L.P., and others, filed an action against DBNTC and DBTCA in New York State Supreme Court alleging that DBNTC and DBTCA failed to ~~report~~perform purported duties, as trustees for 544 private-label RMBS trusts, to enforce breaches of representations and warranties as to mortgage loans held by the trusts and to enforce breaches by servicers of their mortgage loan servicing obligations for the trusts. During the course of the litigation, plaintiffs dismissed the case from New York State Supreme Court and refiled two separate cases, one in the U.S. District Court for the Southern District of New York (the “BlackRock SDNY Case”) and the other in the Superior Court of California, Orange County (the “BlackRock California Case”). Pursuant to a settlement among the parties, the BlackRock SDNY Case was dismissed on December 6, 2018 and the BlackRock California Case was dismissed on January 11, 2019.

~~Item 1117~~2 ~~of Regulation AB. Legal Proceedings.~~

~~Deutsche~~On ~~Bank~~September 27, ~~Trust~~2017, ~~Company~~DBTCA ~~Americas~~was added as a defendant to a case brought by certain special purpose entities including Phoenix Light SF Limited in the U.S. District Court for the Southern District of New York, in which the plaintiffs previously alleged incorrectly that DBNTC served as trustee for all 43 of the ~~indenture~~trusts at issue. On September 27, 2017, plaintiffs filed a third amended complaint that names DBTCA as a defendant in addition to DBNTC. DBTCA serves as trustee for one of the 43 trusts at issue. DBNTC serves as trustee for the other 42 trusts at issue. Plaintiffs’ third amended complaint brings claims for violation of the U.S. Trust Indenture Act of 1939 (“TIA”); breach of contract; breach of fiduciary duty; negligence and gross negligence; violation of the New York Streit Act; and breach of the covenant of good faith. However, ~~has~~in ~~provided~~the third amended complaint, plaintiffs acknowledge that, before DBTCA was added to the ~~following~~case, ~~information:~~the court dismissed plaintiffs’ TIA Act claims, negligence and gross negligence claims, Streit Act claims, claims for breach of the covenant of good faith, and certain theories of plaintiffs’ breach of contract claims, and plaintiffs only include these claims to preserve any rights on appeal. Plaintiffs allege damages of “hundreds of millions of dollars.” On November 13, 2017, DBNTC and DBTCA filed an answer to the third amended complaint. On December 7, 2018, DBNTC and DBTCA filed a motion for summary judgment. Also on December 7, 2018, plaintiffs, jointly with Commerzbank AG (see description of Commerzbank case below), filed a motion for partial summary judgment. Both motions are being briefed by the parties. Discovery is ongoing.

~~Deutsche~~On ~~Bank~~November 30, ~~Trust~~2017, ~~Company~~DBTCA ~~Americas~~was added as a defendant to a case brought by Commerzbank AG (“~~DBTCA~~Commerzbank”) ~~and~~in ~~Deutsche~~the ~~Bank~~U.S. ~~National~~District Court ~~Trust~~for ~~Company~~the (“Southern District of New York, in which Commerzbank previously alleged incorrectly that DBNTC”) ~~have~~served ~~been~~as ~~sued~~trustee byfor all 50 of the trusts at issue. On November 30, 2017, Commerzbank filed a second amended complaint that names DBTCA ~~investors~~as a defendant in ~~civil~~addition ~~litigation~~to ~~concerning~~DBNTC. ~~their~~DBTCA ~~role~~serves as ~~trustees~~trustee for 1 of ~~certain~~the ~~RMBS~~50 trusts at issue. DBNTC serves as trustee for the other 49 trusts at issue. Commerzbank’s second amended complaint brings claims for violation of the TIA; breach of contract; breach of fiduciary duty; negligence; violation of the Streit Act; and breach of the covenant of good faith. However, in the second amended complaint, Commerzbank acknowledges that, before DBTCA was added to the case, the court dismissed Commerzbank’s TIA claims for the trusts governed by pooling and servicing agreements, as well as its Streit Act claims and claims for breach of the covenant of good faith, and Commerzbank only includes these claims to preserve any rights on appeal. The second amended complaint alleges that DBNTC and DBTCA caused Commerzbank to suffer “hundreds of millions of dollars in losses,” but the complaint does not include a demand for money damages in a sum certain. On January 29, 2018, DBNTC and DBTCA filed an answer to the second amended complaint. On December 7, 2018, DBNTC and DBTCA filed a motion for summary judgment. Also on December 7, 2018, Commerzbank, jointly with the Phoenix Light plaintiffs, filed a motion for partial summary judgment. Both motions are being briefed by the parties. Discovery is ongoing.

On ~~June~~December 1830, ~~2014~~2015, ~~a group of investors,~~IKB ~~including funds managed by Blackrock Advisors~~International, ~~LLC, PIMCO-Advisors, L~~S.PA., ~~and others, filed a derivative action against DBNTC and DBTCA~~ in ~~New~~Liquidation ~~York State Supreme Court purportedly on behalf of~~ and ~~for~~IKB ~~the~~Deutsche ~~benefit~~Industriebank ~~of 544 private-label RMBS trusts asserting claims for alleged violations of the U~~A.SG. ~~Trust Indenture Act of 1939~~ (~~TIA)~~collectively, ~~breach of contract~~“IKB”), ~~breach~~as ofan ~~fiduciary~~investor ~~duty~~in ~~and~~37 ~~negligence~~RMBS ~~based on DBNTC and DBTCA’s alleged failure to perform their duties as trustees for the~~ trusts~~. Plaintiffs~~, ~~subsequently dismissed their state court complaint and~~ filed a ~~derivative~~summons ~~and~~with ~~class~~notice ~~action complaint~~ in the ~~U.S.~~Supreme ~~District~~ Court ~~for~~of the ~~Southern~~State ~~District~~ of New York ~~on behalf of and for the benefit of 564 private-label RMBS trusts~~, ~~which substantially~~New ~~overlapped~~York ~~with the trusts at issue in the state court action. The complaint alleges that the trusts at issue have suffered total realized collateral losses of U.S. $89.4 billion~~County, ~~but~~against ~~the complaint does not include a demand for money damages in a sum certain.~~ DBNTC and DBTCA ~~filed a motion to dismiss, and on January 19, 2016, the court partially granted the motion on procedural grounds:~~ as totrustees ~~the~~of ~~500 trusts that are governed by Pooling and Servicing Agreements,~~ the ~~court~~ ~~declined to exercise jurisdiction~~trusts. ~~The court did not rule on substantive defenses asserted in the motion to dismiss.~~ On ~~March~~May 2227, 2016, ~~plaintiffs~~IKB ~~filed~~served anits ~~amended~~ complaint inasserting ~~federal court. In the amended complaint, in connection with 62 trusts governed by indenture agreements, plaintiffs assert~~ claims for breach of contract, ~~violation of the TIA,~~ breach of fiduciary duty, ~~and~~ breach of duty to avoid conflicts of interest., ~~The~~violation ~~amended~~of ~~complaint~~the ~~alleges~~Streit ~~that~~Act, ~~the~~violation ~~trusts~~of atthe ~~issue~~TIA, ~~have~~violation ~~suffered~~of ~~total~~Regulation ~~realized~~AB, ~~collateral~~and ~~losses~~violation of ~~U.S. $9.8~~Section ~~billion,~~9 ~~but~~of the ~~complaint~~Uniform ~~does~~Commercial ~~not include a demand for money damages in a sum certain~~Code. OnIKB ~~July 15,~~alleges ~~2016,~~that DBNTC and DBTCA ~~filed~~are aliable ~~motion~~for toover ~~dismiss~~U.S. ~~the~~$268 million ~~amended~~in ~~complaint~~damages. On ~~January~~ October 235, ~~2017~~2016, ~~the court granted in part and denied in part~~ DBNTC and DBTCA’s, ~~motion~~together ~~to dismiss. The court granted the motion to dismiss~~ with ~~respect~~several ~~to plaintiffs’~~other ~~conflict-of-interest~~trustees ~~claim,~~defending ~~thereby~~lawsuits ~~dismissing~~by itIKB, ~~and~~filed ~~denied~~a ~~the~~joint motion to dismiss ~~with respect to plaintiffs’ breach of contract claim (except as noted below) and claim for violation of the TIA, thereby allowing those claims to proceed~~. On January 266, 2017, ~~the~~IKB ~~parties~~ filed a ~~joint~~notice ~~stipulation and proposed order dismissing plaintiffs’ claim for breach~~ of ~~fiduciary duty. On January 27~~discontinuance, ~~2017, the~~voluntarily ~~court~~dismissing ~~entered~~with ~~the~~prejudice ~~parties’~~all ~~joint~~claims ~~stipulation~~as ~~and~~to ~~ordered~~three ~~that~~trusts. ~~plaintiffs’~~As ~~claim for breach~~ of ~~fiduciary duty be dismissed. On February~~January 317, 2017, ~~following a hearing concerning~~ DBNTC and DBTCA’s motion to dismiss ~~on February 2,~~has ~~2017,~~been ~~the~~briefed ~~court issued a short form order dismissing (i) plaintiffs’ representation~~ and ~~warranty~~is ~~claims~~awaiting asdecision toby ~~21 trusts whose originators and/or sponsors had entered bankruptcy and~~ the deadline for asserting claims against such originators and/or sponsors had passed as of 2009 and (ii) plaintiffs’ claims to the extent they were premised upon any alleged pre-Event of Default duty to terminate servicerscourt. On ~~March~~ June 2720, 2017, ~~DBNTC and DBTCA filed an answer to~~ the ~~amended~~parties ~~complaint. On January 26, 2018, Plaintiffs~~ filed a ~~motion~~stipulation, ~~for~~voluntarily ~~class~~dismissing ~~certification.~~with ~~DBNTC~~prejudice ~~and~~all ~~DBTCA’s~~claims ~~opposition~~as to ~~Plaintiffs’~~four ~~motion~~additional istrusts. ~~due~~Certain onlimited ~~March 26, 2018,~~discovery ~~and~~is ~~Plaintiffs’~~permitted ~~reply~~to isgo ~~due~~forward onwhile ~~April 16,~~the ~~2018.~~motion ~~Discovery~~to dismiss is ~~ongoing~~pending.

2It is DBTCA’s belief that it has no pending legal proceedings (including, based on DBTCA’s present evaluation, the litigation disclosed in the foregoing paragraphs) that would materially affect its ability to perform its duties as Trustee under the Indenture and Sale and Servicing Agreement for this transaction.

On3 March 25, 2016, the BlackRock plaintiffs filed a state court action against DBTCA in the Superior Court of California, Orange County with respect to 513 trusts. On May 18, 2016, plaintiffs filed an amended complaint with respect to 465 trusts, and included DBNTC as an additional defendant. The amended complaint asserts three causes of action: breach of contract; breach of fiduciary duty; and breach of the duty to avoid conflicts of interest. Plaintiffs purport to bring the action on behalf of themselves and all other current owners of certificates in the 465 trusts. The amended complaint alleges that the trusts at issue have suffered total realized collateral losses of U.S. $75.7 billion, but does not include a demand for money damages in a sum certain. On August 22, 2016, DBNTC and DBTCA filed a demurrer as to Plaintiffs’ breach of fiduciary duty cause of action and breach of the duty to avoid conflicts of interest cause of action and motion to strike as to Plaintiffs’ breach of contract cause of action. On October 18, 2016, the court granted DBNTC and DBTCA’s demurrer, providing Plaintiffs with thirty days’ leave to amend, and denied DBNTC and DBTCA’s motion to strike. Plaintiffs did not further amend their complaint and, on December 19, 2016, DBNTC and DBTCA filed an answer to the amended complaint. On January 17, 2018, Plaintiffs filed a motion for class certification. DBNTC and DBTCA’s opposition to Plaintiffs’ motion is due on March 16, 2018, and Plaintiffs’ reply is due on April 16, 2018. Discovery is ongoing.

OnPART ~~September 27,~~II 2017, DBTCA was added as a defendant to a case brought by certain special purpose entities including Phoenix Light SF Limited in the U.S. District Court for the Southern District of New York, in which the plaintiffs previously alleged incorrectly that DBNTC served as trustee for all 43 of the trusts at issue. On September 27, 2017, plaintiffs filed a third amended complaint that names DBTCA as a defendant in addition to DBNTC. DBTCA serves as trustee for one of the 43 trusts at issue. DBNTC serves as trustee for the other 42 trusts at issue. Plaintiffs’ third amended complaint brings claims for violation of the TIA; breach of contract; breach of fiduciary duty; negligence and gross negligence; violation of the Streit Act; and breach of the covenant of good faith. However, in the third amended complaint, plaintiffs acknowledge that, before DBTCA was added to the case, the court dismissed plaintiffs’ TIA Act claims, negligence and gross negligence claims, Streit Act claims, claims for breach of the covenant of good faith, and certain theories of plaintiffs’ breach of contract claims, and plaintiffs only include these claims to preserve any rights on appeal. Plaintiffs allege damages of “hundreds of millions of dollars.” On November 13, 2017, DBNTC and DBTCA filed an answer to the third amended complaint. Discovery is ongoing.

OnThe ~~November 30,~~following ~~2017,~~items ~~DBTCA~~have ~~was~~been ~~added~~omitted ~~as a defendant to a case brought by Commerzbank AG (“Commerzbank”)~~ in ~~the~~accordance ~~U.S.~~with ~~District Court~~General ~~for~~Instruction ~~the~~J ~~Southern~~to ~~District~~Form of10-K: ~~New York, in which Commerzbank previously alleged incorrectly that DBNTC served as trustee for all 50 of the trusts at issue.~~

3Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

OnItem ~~November 30,~~6: ~~2017,~~Selected ~~Commerzbank~~Financial filed a second amended complaint that names DBTCA as a defendant in addition to DBNTC. DBTCA serves as trustee for 1 of the 50 trusts at issue. DBNTC serves as trustee for the other 49 trusts at issue. Commerzbank’s second amended complaint brings claims for violation of the TIA; breach of contract; breach of fiduciary duty; negligence; violation of the Streit Act; and breach of the covenant of good faith. However, in the second amended complaint, Commerzbank acknowledges that, before DBTCA was added to the case, the court dismissed Commerzbank’s TIA claims for the trusts governed by pooling and servicing agreements, as well as its Streit Act claims and claims for breach of the covenant of good faith, and Commerzbank only includes these claims to preserve any rights on appeal. The second amended complaint alleges that DBNTC and DBTCA caused Commerzbank to suffer “hundreds of millions of dollars in losses,” but the complaint does not include a demand for money damages in a sum certain. On January 29, 2018, DBNTC and DBTCA filed an answer to the second amended complaint. Discovery is ongoing. Data

OnItem ~~December 30,~~7: 2015, IKB International, S.A. in Liquidation and IKB Deutsche Industriebank A.G. (collectively, “IKB”), as an investor in 37 RMBS trusts, filed a summons with notice in the Supreme Court of the State of New York, New York County, against DBNTC and DBTCA as trustees of the trusts. On May 27, 2016, IKB served its complaint asserting claims for breach of contract, breach of fiduciary duty, breach of duty to avoid conflicts of interest, violation of New YorkManagement’s ~~Streit~~Discussion ~~Act, violation of the Trust Indenture Act, violation of Regulation AB,~~ and ~~violation~~Analysis of ~~Section 9~~Financial ofCondition ~~the Uniform Commercial Code. IKB alleges that DBNTC~~ and ~~DBTCA~~Results are liable for over U.S. $268 million in damages. On October 5, 2016, DBNTC and DBTCA, together with several other trustees defending lawsuits by IKB, filed a joint motion to dismiss. On January 6, 2017, IKB filed a notice of discontinuance, voluntarily dismissing with prejudice all claims as to three trusts. As of January 17, 2017, DBNTC and DBTCA’s motion to dismiss has been briefed and is awaiting decision by the court. On June 20, 2017, the parties filed a stipulation, voluntarily dismissing with prejudice all claims as to four additional trusts. Certain limited discovery is permitted to go forward while the motion to dismiss is pending. Operations

ItItem is7A: ~~DBTCA’s~~Quantitative belief that it has no pending legal proceedings (including, based on DBTCA’s present evaluation, the litigation disclosed in the foregoing paragraphs) that would materially affect its ability to perform its duties as indenture trustee under the Indenture and ~~Sale and~~Qualitative ~~Servicing~~Disclosures ~~Agreement~~about ~~for~~Market ~~this transaction.~~ Risk

4Item 8: Financial Statements and Supplementary Data

~~PART~~Item II9: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

~~The~~Item ~~following~~9A: ~~items~~Controls ~~have~~and ~~been omitted in accordance with General Instruction J to Form 10-K:~~ Procedures

Item 5:9B. ~~Market~~Other ~~for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities~~Information.

~~Item~~Santander 6:Consumer ~~Selected~~USA ~~Financial~~Inc. ~~Data~~(“SC”) is a wholly-owned subsidiary of Santander Consumer USA Holdings Inc. (“SC Holdings”). On February 26, 2019, SC Holdings filed its Annual Report on Form 10-K for the year ended December 31, 2018 and disclosed certain legal and regulatory matters. Additional information about SC Holdings and its consolidated subsidiaries, including information contained in required annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, is on file with the SEC under the name “Santander Consumer USA Holdings Inc.” and file number 001-36270.

~~Item~~4 ~~7: Management’s Discussion and Analysis of Financial Condition and Results of Operations~~

~~Item~~PART ~~7A:~~III ~~Quantitative and Qualitative Disclosures about Market Risk~~

~~Item~~The 8:following ~~Financial~~items ~~Statements~~have ~~and~~been ~~Supplementary~~omitted ~~Data~~in accordance with General Instruction J to Form 10-K:

Item 910: ~~Changes~~Directors, inExecutive ~~and~~Officers, ~~Disagreements with Accountants on Accounting~~ and ~~Financial~~Corporate ~~Disclosure~~Governance

Item 9A11: ~~Controls~~Executive ~~and Procedures~~Compensation

Item ~~9B.~~12: ~~Other~~Security ~~Information.~~Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

~~Santander~~Item ~~Consumer~~13: ~~USA~~Certain ~~Inc.~~Relationships (“SC”) is a wholly-owned subsidiary of Santander Consumer USA Holdings Inc. (“SC Holdings”). On February 28, 2018, SC Holdings filed its Annual Report on Form 10-K for the year ended December 31, 2017 and ~~disclosed certain~~Related ~~legal and regulatory matters. Additional information about SC Holdings and its consolidated subsidiaries~~Transactions, ~~including information contained in required annual reports on Form 10-K, quarterly reports on Form 10-Q~~ and ~~current~~Director ~~reports on Form 8-K, is on file with the SEC under the name “Santander Consumer USA Holdings Inc.” and file number 001-36270.~~ Independence

SCItem ~~acts~~14: asPrincipal ~~the~~Accounting ~~servicer~~Fees ~~for the issuing entity. Under the Servicing Agreement, dated July 15, 2016, by~~ and between SC and Santander Consumer International Puerto Rico LLC (the “Subservicer”), and the related Program Portfolio Schedule (the Program Portfolio Schedule, together with the Servicing Agreement, the “Subservicing Agreement”), the Subservicer managed, serviced, collected, enforced, administered and provided other services with respect to each receivable held by the issuing entity that was a Performing Loan (as defined in the Subservicing Agreement). Pursuant to the written agreement of SC and the Subservicer, the Subservicing Agreement was terminated effective on December 31, 2017 at 11:59 p.m. Services

~~SC,~~Substitute asinformation ~~sole~~provided ~~equity~~in ~~member,~~accordance ~~entered~~with ~~into~~General aInstruction ~~First~~J ~~Amendment, dated as of February 28, 2017,~~ to the Amended and Restated Limited Company Agreement of Santander Drive Auto Receivables LLC, the depositor, amending the definition of independent director. The First Amendment is attached as an exhibit to this Form 10-K.:

~~On April~~Item ~~13,~~1119 ~~2017,~~of aRegulation ~~First~~AB. ~~Amendment~~Affiliations ~~to Sale~~ and ~~Servicing~~Certain ~~Agreement~~Relationships ~~was entered into amending the definition of Liquidation Proceeds in the Sale~~ and ~~Servicing~~Related ~~Agreement~~Transactions. ~~The First Amendment is attached as an exhibit to this Form 10-K.~~

5Information required by Item 1119 of Regulation AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119.

~~PART~~Item 1122 ~~III~~of Regulation AB. Compliance with Applicable Servicing Criteria.

~~The~~Each ~~following~~of ~~items~~SC and Deutsche Bank Trust Company Americas (each, a “Servicing Participant”) have been ~~omitted~~identified by the issuing entity as parties participating in ~~accordance~~the servicing function with ~~General~~respect ~~Instruction~~to Jthe pool assets held by the issuing entity. Each of the Servicing Participants has completed a report on an assessment of compliance with the servicing criteria applicable to it (each, a “Report on Assessment”), which Reports on Assessment are attached as exhibits to this Form 10-K:. In addition, each of the Servicing Participants has provided an attestation report (each, an “Attestation Report”) by one or more registered public accounting firms, which reports are also attached as exhibits to this Form 10-K.

~~Item~~None ~~10:~~of ~~Directors,~~the ~~Executive~~Reports ~~Officers,~~on ~~and~~Assessment ~~Corporate~~or ~~Governance~~the related Attestation Reports has identified any material instances of noncompliance with the servicing criteria described in the related Report on Assessment as being applicable to such Servicing Participant.

Item 1123 ~~11:~~of ~~Executive~~Regulation AB. ~~Compensation~~Servicer Compliance Statements.

~~Item~~SC ~~12:~~has ~~Security~~been ~~Ownership~~identified by the issuing entity as the servicer with respect to the asset pool held by the issuing entity. SC has completed a statement of ~~Certain~~compliance ~~Beneficial~~with ~~Owners~~applicable ~~and~~servicing ~~Management~~criteria ~~and~~signed ~~Related~~by ~~Stockholder~~an ~~Matters~~authorized officer. The Compliance Statement is attached as an exhibit to this Form 10-K.

~~Item~~5 ~~13: Certain Relationships and Related Transactions, and Director Independence~~

~~Item~~PART ~~14:~~IV ~~Principal Accounting Fees and Services~~

Substitute information provided in accordance with General Instruction J to Form 10-K:

Item 1119 of Regulation AB. Affiliations and Certain Relationships and Related Transactions.

Information required by Item 1119 of Regulation AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119.

Item 1122 of Regulation AB. Compliance with Applicable Servicing Criteria.

Each of SC, the Subservicer and Deutsche Bank Trust Company Americas (each, a “Servicing Participant”) have been identified by the issuing entity as parties participating in the servicing function with respect to the pool assets held by the issuing entity. Each of the Servicing Participants has completed a report on an assessment of compliance with the servicing criteria applicable to it (each, a “Report on Assessment”), which Reports on Assessment are attached as exhibits to this Form 10-K. In addition, each of the Servicing Participants has provided an attestation report (each, an “Attestation Report”) by one or more registered public accounting firms, which reports are also attached as exhibits to this Form 10-K.

Management’s Assessment of Compliance for SC has identified material instances of noncompliance for the 2017 fiscal year, one of which is a continuation of a material instance of noncompliance reported by the issuing entity in its annual report on Form 10-K filed March 30, 2017 and relates to reports to investors delivered during or prior to March 2017.

Management’s Assessment of Compliance for SC for the 2016 fiscal year identified a material instance of noncompliance related to the servicing criterion set forth in Item 1122(d)(3)(i) – reports to investors, including those to be filed with the Commission, were not maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, reports to investors provided information that was not calculated in accordance with the terms specified in the transaction agreements. SC determined the existence of a material instance of noncompliance in March 2017, and the material instance of noncompliance related to this instance for the 2017 fiscal year relates to reports to investors delivered during or prior to March 2017. The instance of noncompliance described in this paragraph for both the 2016 and 2017 fiscal years, which does relate to the asset-backed securities covered in this Form 10-K and issued by the issuing entity, relates to two separate matters:

Under the transaction agreements for the Platform, SC, as Servicer, is entitled to receive all Supplemental Servicing Fees as additional servicing compensation, and such Supplemental Servicing Fees do not constitute Available Funds. However, SC included Supplemental Servicing Fees for certain transactions in the Platform under “other amounts received” and included such amounts as part of “Available Funds” in the investor reports; for these transactions, Supplemental Servicing Fees were distributed in accordance with the payment priorities set forth in the related transaction agreements rather than being retained by the Servicer.

To address this issue related to Supplemental Servicing Fees and the related instance of noncompliance, SC stopped including Supplemental Servicing Fees as “other amounts received” for all transactions in the Platform beginning with the March 2017 collection period and began retaining such amounts as additional servicing compensation as specified in the transaction agreements. SC believes that the inclusion of Supplemental Servicing Fees as available funds did not result in any material adverse effect on security holders.

Under the transaction agreements for the Platform, SC, as Servicer, is required to pay all expenses incurred by it in connection with its activities as servicer other than expenses in connection with the sale of a repossessed vehicle, which may be netted from liquidation proceeds from such sale. For certain transactions in the Platform, SC did not net external costs associated with repossession expenses attributable to financed vehicles sold after the related receivables have become defaulted receivables; for these transactions, SC paid such repossession expenses and the “Liquidation Proceeds” included in the investor reports and distributed in accordance with the payment priorities set forth in the related transaction agreements were greater than they would have been had SC reduced the liquidation proceeds by the external costs associated with repossession expenses in accordance with the transaction agreements for those transactions.

To address this issue related to repossession expenses and the related instance of noncompliance, SC amended the transaction agreements for the effected transactions in the Platform to memorialize the agreement of the Servicer to pay such external costs of repossessions rather than netting such amounts from sale proceeds from the disposition of repossessed financed vehicles. SC believes that the payment of external costs associated with repossession expenses by the Servicer and the failure to report Liquidation Expenses on the investor reports net of such repossession expenses for certain transactions did not result in any material adverse effect on security holders.

Management’s Assessment of Compliance for SC for the 2017 fiscal year identified an additional matter that resulted in a finding of a material instance of noncompliance related to the servicing criterion set forth in Item 1122(d)(3)(i) – reports to investors, including those to be filed with the Commission, were not maintained in accordance with the transaction agreements and applicable Commission requirements— and Item 1122(d)(4)(iii) – any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. This matter relates to the following circumstance:

The transaction agreements for each transaction in the Platform specify the repurchase price to be paid by SC in connection with the repurchase of receivables from the issuing entity. In August 2017, the Servicer recalculated the accrued interest portion of the repurchase price paid in connection with the prior repurchase of receivables from issuers included in the Platform and, after recalculating the amount of accrued interest owed, determined that there was an aggregate shortfall in the repurchase price paid for certain of the transactions in the Platform. The material instance of noncompliance described in this paragraph does relate to the asset-backed securities covered by this Form 10-K and issued by the issuing entity.

To address this issue related to the repurchase price for receivables and the related instances of noncompliance, SC recalculated the repurchase price for all affected transactions and made deposits on August 15, 2017 into the applicable collection account in an amount equal to the shortfall. Additionally, SC updated the related systems coding applicable to the methodology for calculating the repurchase price in August 2017 to avoid future shortfalls. SC believes that the shortfall in the accrued interest portion of the repurchase price paid in connection with the prior repurchase of receivables and the subsequent deposit of the shortfall into the applicable collection account did not result in any material adverse effect on security holders. With respect to the instances of noncompliance described above, SC has implemented additional procedures to confirm that calculations included in investor reports are completed as set forth in the transaction agreements and has implemented greater management oversight of reporting, enhanced quality assurance controls, and updated the related systems coding applicable to calculations included in investor reports.

Item 1123 of Regulation AB. Servicer Compliance Statements.

SC and the Subservicer have been identified by the issuing entity as the servicers with respect to the asset pool held by the issuing entity. Each of SC and the Subservicer have completed a statement of compliance with applicable servicing criteria (each, a “Compliance Statement”) signed by an authorized officer. The Compliance Statements are attached as exhibits to this Form 10-K.

PART IV

Item 15. Exhibits and Financial Statement Schedules.

(a)(1)

Not Applicable.

(a)(2)

Not Applicable.

(a)(3)

See Item 15(b) below.

(b)

Exhibits.

The exhibits listed below are either included or incorporated by reference as indicated:


Exhibit No.		Description

1.1		Underwriting Agreement, dated as of June 17, 2015, among Santander Drive Auto Receivables LLC (“Santander Drive”), Santander Consumer USA Inc. (“SC”) and J.P. Morgan Securities LLC, as representative of the several underwriters (incorporated by reference to Exhibit 1.1 of Form 8-K filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on June 19, 2015)

3.1		Amended and Restated Limited Liability Company Agreement of Santander Drive dated as of March 7, 2007 (incorporated by reference to Exhibit 3.1 of Form S-3 filed by Santander Drive (Commission File No. 333-192513) with the Securities and Exchange Commission on November 22, 2013)

3.2		First Amendment to Amended and Restated Limited Liability Company Agreement, dated as of February 28, 2017, by SC, as sole equity member (incorporated by reference to Exhibit 3.1 of Form 8-K filed by the Santander Drive (Commission File No. 333-139609) with the Securities and Exchange Commission on March 1, 2017)

4.1		Indenture, dated as of June 24, 2015, between Santander Drive Auto Receivables Trust 2015-3, as issuer (the “Issuer”), and Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture Trustee”) (incorporated by reference to Exhibit 4.1 of Form 8-K filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on June 26, 2015)

10.1		Purchase Agreement, dated as of June 24, 2015, between SC and Santander Drive (incorporated by reference to Exhibit 10.1 of Form 8-K filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on June 26, 2015)

10.2		Sale and Servicing Agreement, dated as of June 24, 2015, among the Issuer, Santander Drive, SC and the Indenture Trustee (incorporated by reference to Exhibit 10.2 of Form 8-K filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on June 26, 2015)

10.3		Administration Agreement, dated as of June 24, 2015, among the Issuer, SC, as administrator, and the Indenture Trustee (incorporated by reference to Exhibit 10.3 of Form 8-K filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on June 26, 2015)

10.4	Amended and Restated Trust Agreement, dated as of June 24, 2015, between Santander Drive and Wilmington Trust, National Association, not in its individual capacity but solely as owner trustee for the Issuer (incorporated by reference to Exhibit 10.4 of Form 8-K filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on June 26, 2015)	Amended and Restated Trust Agreement, dated as of June 24, 2015, between Santander Drive and Wilmington Trust, National Association, not in its individual capacity but solely as owner trustee for the Issuer (incorporated by reference to Exhibit 10.4 of Form 8-K filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on June 26, 2015)
10.5	First Amendment to Sale and Servicing Agreement, dated April 13, 2017 (incorporated by reference to Exhibit 10.52 of Form 10-D filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on April 17, 2017)	First Amendment to Sale and Servicing Agreement, dated April 13, 2017 (incorporated by reference to Exhibit 10.2 of Form 10-D filed by the Issuer (Commission File No. 333-192513-07) with the Securities and Exchange Commission on April 17, 2017)
31.1	~~31.1~~Certification (Santander Drive)	~~Certification (Santander Drive)~~
33.1	~~33.1~~Management’s Assessment of Compliance with SEC Regulation AB Servicing Criteria (SC)	~~Management’s Assessment of Compliance with SEC Regulation AB Servicing Criteria (SC)~~
33.2	~~33.2~~Management’s Assertion of Compliance (Indenture Trustee)	~~Management’s Assertion of Compliance (Indenture Trustee)~~
	33.3	Management’s Assessment of Compliance with SEC Regulation AB Servicing Criteria (Subservicer)
34.1	Report of Independent Registered Public Accounting Firm (PricewaterhouseCoopers LLP with respect to SC)
	34.1	Report of Independent Registered Public Accounting Firm (PricewaterhouseCoopers LLP with respect to SC)
34.2	Report of Independent Registered Public Accounting Firm (KPMG LLP with respect to the Indenture Trustee)
	34.2	Report of Independent Registered Public Accounting Firm (KPMG LLP with respect to the Indenture Trustee)
35.1	Servicer Compliance Statement (SC)
	34.3	Report of Independent Registered Public Accounting Firm (PricewaterhouseCoopers LLP with respect to the Subservicer)
99.1	Servicing Agreement, dated as of July 15, 2016, by and between SC and Santander Consumer International Puerto Rico LLC (the “Subservicer”) (incorporated by reference to Exhibit 99.1 of Form 8-K filed by Santander Drive (Commission File No. 333-139609) with the Securities and Exchange Commission on March 1, 2017)
	35.1	Servicer Compliance Statement (SC)
99.2	Amended and Restated Program Portfolio Schedule (SDART Publicly Registered Transactions), dated as of January 31, 2017, by and between SC and the Subservicer (incorporated by reference to Exhibit 99.2 of Form 8-K filed by Santander Drive (Commission File No. 333-139609) with the Securities and Exchange Commission on March 1, 2017)
	35.2	Servicer Compliance Statement (Subservicer)
	99.1	Servicing Agreement, dated as of July 15, 2016, by and between SC and Santander Consumer International Puerto Rico LLC (the “Subservicer”) (incorporated by reference to Exhibit 99.1 of Form 8-K filed by Santander Drive (Commission File No. 333-139609) with the Securities and Exchange Commission on March 1, 2017)
	99.2	Amended and Restated Program Portfolio Schedule (SDART Publicly Registered Transactions), dated as of January 31, 2017, by and between SC and the Subservicer (incorporated by reference to Exhibit 99.2 of Form 8-K filed by Santander Drive (Commission File No. 333-139609) with the Securities and Exchange Commission on March 1, 2017)

~~Supplemental~~Item ~~information~~16. toForm be10-K ~~Furnished With Reports Filed Pursuant to Section 15(d) of the Act by Registrants Which Have Not Registered Securities Pursuant to Section 12 of the Act~~Summary.

NoNone annual report, proxy statement, form of proxy or other proxy soliciting material has been sent to certificateholders, and the registrant does not presently contemplate sending any such materials subsequent to the filing of this report.

9Supplemental information to be Furnished With Reports Filed Pursuant to Section 15(d) of the Act by Registrants Which Have Not Registered Securities Pursuant to Section 12 of the Act.

~~SIGNATURES~~No annual report, proxy statement, form of proxy or other proxy soliciting material has been sent to certificateholders, and the registrant does not presently contemplate sending any such materials subsequent to the filing of this report.

~~Pursuant~~7 ~~to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.~~

~~Date: March 30,~~SIGNATURES ~~2018~~

~~SANTANDER~~Pursuant ~~DRIVE~~to ~~AUTO~~the ~~RECEIVABLES~~requirements ~~LLC,~~of asSection 13 ~~depositor~~or ~~By:~~15(d) ~~/s/~~of ~~Corey~~the ~~Henry~~Securities ~~Name:~~Exchange ~~Corey~~Act ~~Henry~~of ~~Title:~~1934, ~~President~~the ~~and~~registrant ~~Chief~~has ~~Executive~~duly ~~Officer~~caused ~~(senior~~this ~~officer~~report into be ~~charge~~signed ofon ~~securitization~~its ofbehalf by the ~~depositor)~~undersigned, thereunto duly authorized.

10Date: March 29, 2019


SANTANDER DRIVE AUTO RECEIVABLES LLC, as depositor

By:		/s/ Corey Henry
Name:		Corey Henry
Title:		President and Chief Executive Officer
		(senior officer in charge of securitization of the depositor)

Filing Compare · SANTANDER DRIVE AUTO RECEIVABLES TRUST 2015-3