10-K - Santander Drive Auto Receivables Trust 2023-3 (0001982819) (Filer)

Wed, Mar 26, 5:28 PM (32 days ago)

**Santander Drive Auto Receivables Trust 2023-3 (SDART) 10-K Summary** **Financial Performance (2024):** - **Revenue**: Not explicitly stated, but implied through asset pool performance. - **Net Income**: Not explicitly stated. - **Operating Expenses**: Not explicitly stated. - **Earnings Per Share**: Not applicable (NA). **Strategic Overview:** - SDART is a securitization trust backed by auto receivables. - Santander Consumer USA Inc. (SC) is the sponsor and servicer. - The trust complies with servicing criteria, with no material instances of noncompliance reported. **Future Outlook:** - The outlook is tied to the performance of the underlying auto receivables. - Continued compliance with servicing criteria is expected. **Risk Factors:** - Credit risk associated with auto receivables. - Operational risks related to servicing and administration. **Financial Condition:** - The trust's financial condition is supported by the asset pool and credit enhancements. - No significant obligations or legal proceedings reported. **Market Position Changes:** - No changes in market position reported. - The trust does not have voting or non-voting common equity outstanding held by non-affiliates. **Key Exhibits:** - Underwriting Agreement, Indenture, Purchase Agreement, and various compliance statements and assessments. **Ticker:** Not applicable for this type of trust. **Note:** SDART is a pass-through entity, and its financial performance is directly linked to the underlying auto receivables. The trust's success depends on the credit quality and timely payments of the asset pool.