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, ~~2019~~2020.

☐	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 2018-5

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

Commission file number of the issuing entity: 333-206684-11

Central Index Key Number of issuing entity: 0001753581

SANTANDER DRIVE AUTO RECEIVABLES LLC

(Exact name of depositor as specified in its charter)

Commission file number of depositor: 333-206684

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)

83-6266959

(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 ☐

~~Yes~~Indicate ☒by check mark whether the registrant has Nosubmitted 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 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 whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

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 ishas filed a ~~shell~~report ~~company~~on ~~(as~~and ~~defined~~attestation into ~~Rule~~its ~~12b-2~~management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

~~Yes~~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

~~Not~~List ~~applicable~~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

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

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

~~Item~~Nothing 1Bto report. ~~Unresolved Staff Comments~~

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

~~Nothing~~Wells toFargo ~~report~~Bank, N.A., as the indenture trustee, has provided the following information:

~~Item~~Beginning ~~1115~~on June 18, 2014, a group of institutional investors filed civil complaints in the Supreme Court of the State of New York, New York County, and later the U.S. District Court for the Southern District of New York, against Wells Fargo Bank, N.A., (b“Wells Fargo Bank”) ofin ~~Regulation~~its ABcapacity as trustee for certain residential mortgage backed securities (“RMBS”) trusts. The complaints ~~Certain~~against ~~Derivatives~~Wells ~~Instruments~~Fargo Bank alleged that the trustee caused losses to investors and asserted causes of action based upon, among other things, the trustee’s alleged failure to: (~~Financial~~i) notify ~~Information~~and enforce repurchase obligations of mortgage loan sellers for purported breaches of representations and warranties, (ii) notify investors of alleged events of default, and (iii) abide by appropriate standards of care following alleged events of default. Relief sought included money damages in an unspecified amount, reimbursement of expenses, and equitable relief. In November 2018, Wells Fargo Bank reached an agreement, in which it denied any wrongdoing, to resolve such claims on a classwide basis for the 271 RMBS trusts at issue. On May 6, 2019, the court entered an order approving the settlement agreement. Separate lawsuits against Wells Fargo Bank making similar allegations filed by certain other institutional investors concerning several RMBS trusts in New York federal and state court are not covered by the settlement agreement.

~~Nothing~~In addition to the foregoing cases, in August 2014 ~~report~~and August 2015 Nomura Credit & Capital Inc. (“Nomura”) and Natixis Real Estate Holdings, LLC (“Natixis”) filed a total of seven third-party complaints against Wells Fargo Bank in New York state court. In the underlying first-party actions, Nomura and Natixis have been sued for alleged breaches of representations and warranties made in connection with residential mortgage-backed securities sponsored by them. In the third-party actions, Nomura and Natixis allege that Wells Fargo Bank, as master servicer, primary servicer or securities administrator, failed to notify Nomura and Natixis of their own breaches, failed to properly oversee the primary servicers, and failed to adhere to accepted servicing practices. Natixis additionally alleges that Wells Fargo Bank failed to perform default oversight duties. Wells Fargo Bank has asserted counterclaims alleging that Nomura and Natixis failed to provide Wells Fargo Bank notice of their representation and warranty breaches.

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

With respect to each of the foregoing litigations, Wells Fargo Bank, ~~N.A.~~believes plaintiffs’ claims are without merit and intends to contest the claims vigorously, but there can be no assurances as to the ~~indenture trustee,~~outcome ~~has~~of ~~provided~~the litigations or the ~~following~~possible ~~information:~~impact of the litigations on Wells Fargo Bank or the related RMBS trusts.

~~Beginning~~3 on June 18, 2014, a group of institutional investors filed civil complaints in the Supreme Court of the State of New York, New York County, and later the U.S. District Court for the Southern District of New York, against Wells Fargo Bank, N.A., (“Wells Fargo Bank”) in its capacity as trustee for certain residential mortgage backed securities (“RMBS”) trusts. The complaints against Wells Fargo Bank alleged that the trustee caused losses to investors and asserted causes of action based upon, among other things, the trustee’s alleged failure to: (i) notify and enforce repurchase obligations of mortgage loan sellers for purported breaches of representations and warranties, (ii) notify investors of alleged events of default, and (iii) abide by appropriate standards of care following alleged events of default. Relief sought included money damages in an unspecified amount, reimbursement of expenses, and equitable relief. In November 2018, Wells Fargo Bank reached an agreement, in which it denied any wrongdoing, to resolve such claims on a class wide basis for the 271 RMBS trusts at issue. On May 6, 2019, the court entered an order approving the settlement agreement. Separate lawsuits against Wells Fargo Bank making similar allegations filed by certain other institutional investors concerning several RMBS trusts in New York federal and state court are not covered by the agreement. With respect to such litigations, Wells Fargo Bank believes plaintiffs’ claims are without merit and intends to contest the claims vigorously, but there can be no assurances as to the outcome of the litigations or the possible impact of the litigations on Wells Fargo Bank or the RMBS trusts.

2 PART II

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

~~The~~Item ~~following~~5: Market ~~items~~for ~~have~~Registrant’s ~~been~~Common ~~omitted~~Equity, inRelated ~~accordance~~Stockholder ~~with~~Matters ~~General~~and ~~Instruction~~Issuer JPurchases toof ~~Form~~Equity ~~10-K:~~Securities

Item 56: Selected ~~Market~~Financial ~~for~~Data ~~Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities~~

Item 67: Management’s ~~Selected~~Discussion and Analysis of Financial ~~Data~~Condition and Results of Operations

Item 77A: Quantitative ~~Management’s Discussion~~ and ~~Analysis~~Qualitative ofDisclosures ~~Financial~~about ~~Condition~~Market ~~and~~Risk ~~Results of Operations~~

Item 7A8: Financial ~~Quantitative~~Statements and ~~Qualitative~~Supplementary ~~Disclosures~~Data ~~about Market Risk~~

Item 89: Changes ~~Financial~~in ~~Statements~~and Disagreements with Accountants on Accounting and ~~Supplementary~~Financial ~~Data~~Disclosure

Item 99A: Controls ~~Changes in~~ and ~~Disagreements~~Procedures ~~with Accountants on Accounting and Financial Disclosure~~

Item ~~9A:~~9B. ~~Controls~~Other ~~and Procedures~~Information

~~Item~~Santander 9BConsumer USA Inc. ~~Other~~(“SC”) ~~Information~~is a wholly-owned subsidiary of Santander Consumer USA Holdings Inc. (“SC Holdings”). On February 24, 2021, SC Holdings filed its Annual Report on Form 10-K for the year ended December 31, 2020 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.

~~Santander~~4 Consumer USA Inc. (“SC”) is a wholly-owned subsidiary of Santander Consumer USA Holdings Inc. (“SC Holdings”). On February 27, 2020, SC Holdings filed its Annual Report on Form 10-K for the year ended December 31, 2019 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.

3 PART III

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

~~The~~Item ~~following~~10: Directors, ~~items~~Executive ~~have~~Officers, ~~been~~and ~~omitted in~~Corporate ~~accordance~~Governance ~~with General Instruction J to Form 10-K:~~

Item 1011: ~~Directors,~~ Executive ~~Officers,~~Compensation ~~and Corporate Governance~~

Item 1112: Security ~~Executive~~Ownership ~~Compensation~~of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 1213: ~~Security Ownership of~~ Certain ~~Beneficial~~Relationships ~~Owners~~ and ~~Management~~Related Transactions, and ~~Related~~Director ~~Stockholder~~Independence ~~Matters~~

Item 1314: Principal ~~Certain~~Accounting ~~Relationships~~Fees and ~~Related~~Services ~~Transactions, and Director Independence~~

~~Item~~Substitute ~~14:~~information ~~Principal~~provided ~~Accounting~~in ~~Fees~~accordance ~~and~~with ~~Services~~General Instruction J to Form 10-K:

~~Substitute~~Item 1119 ~~information~~of ~~provided~~Regulation inAB. ~~accordance~~Affiliations ~~with~~and ~~General~~Certain ~~Instruction~~Relationships Jand toRelated ~~Form~~Transactions ~~10-K:~~

Information required by Item 1119 of Regulation AB. ~~Affiliations~~has ~~and~~been ~~Certain~~omitted ~~Relationships~~from ~~and~~this ~~Related~~report ~~Transactions~~on Form 10-K in reliance on the Instruction to Item 1119.

~~Information required by~~ Item 1122 ~~1119~~ of Regulation AB. ~~has~~Compliance ~~been~~with ~~omitted~~Applicable ~~from~~Servicing ~~this~~Criteria ~~report on Form 10-K in reliance on the Instruction to Item 1119.~~

~~Item~~Each ~~1122~~ of ~~Regulation~~SC ABand Wells Fargo Bank, National Association (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. ~~Compliance~~Each of the Servicing Participants has completed a report on an assessment of compliance with ~~Applicable~~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 ~~Criteria~~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.

~~Each~~None of ~~SC and Wells Fargo Bank, National Association (each, a “Servicing Participant”) have been identified by~~ the ~~issuing~~Reports ~~entity~~on asAssessment ~~parties~~or ~~participating in~~ the ~~servicing~~related ~~function~~Attestation ~~with~~Reports ~~respect to the pool assets held by the issuing entity. Each of the Servicing Participants~~ has ~~completed~~identified aany ~~report~~material oninstances ~~an assessment~~ of ~~compliance~~noncompliance with the servicing criteria described ~~applicable~~in tothe itrelated ~~(each, a “~~Report on Assessment~~”),~~ ~~which Reports on Assessment are attached~~ as ~~exhibits~~being applicable to ~~this~~such ~~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~~Participant.

~~None~~Item 1123 of ~~the~~Regulation ~~Reports~~AB. onServicer ~~Assessment or the related Attestation Reports has identified any material instances of noncompliance with the servicing criteria described in the related Report on~~Compliance ~~Assessment~~Statements ~~as being applicable to such Servicing Participant.~~

~~Item~~SC ~~1123~~has been 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 ~~Regulation~~compliance ABwith applicable servicing criteria signed by an authorized officer. ~~Servicer~~The Compliance ~~Statements~~Statement is attached as an exhibit to this Form 10-K.

SC5 has been 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 compliance with applicable servicing criteria signed by an authorized officer. The Compliance Statement is attached as an exhibit to this Form 10-K

.PART IV

PART IV

Item 15. Exhibits and Financial Statement Schedules

(a)(1) Not Applicable.


(a)(1)		Not Applicable.

(a)(2)		Not Applicable.

(a)(3)		See Item 15(b) below.

(b)		Exhibits

(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.	~~Exhibit No.~~	Description
1.1	~~1.1~~	Underwriting Agreement, dated as of October 16, 2018, among Santander Drive Auto Receivables LLC (“Santander Drive”), Santander Consumer USA Inc. (“SC”) and RBC Capital Markets 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. 333-206684-11) with the Securities and Exchange Commission on October 18, 2018)
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 SF-3 filed by Santander Drive (Commission File No. 333-206684) with the Securities and Exchange Commission on August 31, 2015)
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 Santander Drive (Commission File No. 333-139609) with the Securities and Exchange Commission on March 1, 2017)
4.1		Indenture, dated as of October 24, 2018, between Santander Drive Auto Receivables Trust 2018-5, as issuer (the “Issuer”), and Wells Fargo Bank, National Association, as indenture trustee (the “Indenture Trustee”) (incorporated by reference to Exhibit 4.1 of Form 8-K filed by the Issuer (Commission File No. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)
10.1		Purchase Agreement, dated as of October 24, 2018, between SC and Santander Drive (incorporated by reference to Exhibit 10.1 of Form 8-K filed by the Issuer (Commission File No. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)
10.2		Sale and Servicing Agreement, dated as of October 24, 2018, 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. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)
10.3		Administration Agreement, dated as of October 24, 2018, 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. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)
10.4		Amended and Restated Trust Agreement, dated as of October 24, 2018, 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. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)

~~3.1~~6 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 SF-3 filed by Santander Drive (Commission File No. 333-206684) with the Securities and Exchange Commission on August 31, 2015)

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 Santander Drive (Commission File No. 333-139609) with the Securities and Exchange Commission on March 1, 2017)


10.5		Asset Representations Review Agreement, dated as of October 24, 2018, among the Issuer, SC, as sponsor and servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer (incorporated by reference to Exhibit 10.5 of Form 8-K filed by the Issuer (Commission File No. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)

31.1		Certification (Santander Drive)

33.1		Management’s Assessment of Compliance with SEC Regulation AB Servicing Criteria (SC)

33.2		Assessment of Compliance with the Applicable Servicing Criteria (Indenture Trustee)

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)

35.1		Servicer Compliance Statement (SC)

4.1 Indenture, dated as of October 24, 2018, between Santander Drive Auto Receivables Trust 2018-5, as issuer (the “Issuer”), and Wells Fargo Bank, National Association, as indenture trustee (the “Indenture Trustee”) (incorporated by reference to Exhibit 4.1 of Form 8-K filed by the Issuer (Commission File No. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)

10.1 Purchase Agreement, dated as of October 24, 2018, between SC and Santander Drive (incorporated by reference to Exhibit 10.1 of Form 8-K filed by the Issuer (Commission File No. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)

10.2 Sale and Servicing Agreement, dated as of October 24, 2018, 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. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)

10.3 Administration Agreement, dated as of October 24, 2018, 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. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)

10.4 Amended and Restated Trust Agreement, dated as of October 24, 2018, 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. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)

10.5 Asset Representations Review Agreement, dated as of October 24, 2018, among the Issuer, SC, as sponsor and servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer (incorporated by reference to Exhibit 10.5 of Form 8-K filed by the Issuer (Commission File No. 333-206684-11) with the Securities and Exchange Commission on October 25, 2018)

31.1 Certification (Santander Drive)

33.1 Management’s Assessment of Compliance with SEC Regulation AB Servicing Criteria (SC)

33.2 Assessment of Compliance with the Applicable Servicing Criteria (Indenture Trustee)

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)

35.1 Servicer Compliance Statement (SC)

(c)	Not Applicable.

Item 16. Form 10-K Summary

None.

Supplemental 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

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.

6 7

SIGNATURES

Pursuant 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 31, ~~2020~~2021


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)

7 8

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

Filing Compare · Santander Drive Auto Receivables Trust 2018-5