EX-99.1 2 d65182dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Santander Drive Auto Receivables Trust 2020-4

Class A-1 0.22356% Asset Backed Notes

Class A-2 0.42% Asset Backed Notes

Class A-3 0.48% Asset Backed Notes

Class B 0.73% Asset Backed Notes

Class C 1.01% Asset Backed Notes

Class D 1.48% Asset Backed Notes

Class E 2.85% Asset Backed Notes

Servicer’s Certificate

This Servicer’s Certificate has been prepared pursuant to Section 4.6 of the Sale and Servicing Agreement among Santander Drive Auto Receivables Trust 2020-4, as Issuer, Santander Consumer USA Inc. as Servicer, Santander Drive Auto Receivables LLC, as Seller, and Wells Fargo Bank, National Association, as Indenture Trustee, dated as of November 24, 2020. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents.

 

Collection Period Beginning:

        07/01/2025  

Collection Period Ending:

        07/31/2025  

Previous Payment/Close Date:

        07/15/2025  

Payment Date

        08/15/2025  

Days of Interest for Period:

        31  

Days in Collection Period:

        31  

Months Seasoned:

        57  

 

Purchases

      Units        Cut-off Date        Closing Date        Original
Pool Balance		  

Initial Purchase

        76,183          10/31/2020          11/24/2020          1,759,547,956.45  

Total

        76,183                    1,759,547,956.45  

 

I. PRINCIPAL BALANCE CALCULATION

 

          

{1} Beginning of period aggregate Principal Balance

 

           {1}       114,265,549.51  

{2} Payments Received

 

         {2}       7,848,818.05    

{3} Repurchased Receivables

 

         {3}       —     

{4} Defaulted Receivables

 

         {4}       1,146,041.75    

{5} Cram Down Losses and Other Principal Adjustments

 

         {5}       6,161.10    

{6} Other Receivables adjustments

 

         {6}       —     

{7} Total Principal distributable amount

 

           {7}       9,001,020.90  

{8} End of period aggregate Principal Balance

 

           {8}       105,264,528.61  

{9} Pool Factor

 

           {9}       0.059825  

II. NOTE BALANCE CALCULATION

 

          
            Class A-1     Class A-2     Class A-3     Class B     Class C     Class D     Class E     Total  

{10} Original Note Balance

 

     {10}       183,600,000.00       464,170,000.00       210,000,000.00       169,800,000.00       256,900,000.00       215,530,000.00       123,180,000.00       1,623,180,000.00  

{11} Beginning of period Note Balance

 

     {11}       —        —        —        —        —        —        75,017,455.84       75,017,455.84  

{12} First Allocation of Principal

 

     {12}       —        —        —        —        —        —        —        —   

{13} Second Allocation of Principal

 

     {13}       —        —        —        —        —        —        —        —   

{14} Third Allocation of Principal

 

     {14}       —        —        —        —        —        —        —        —   

{15} Fourth Allocation of Principal

 

     {15}       —        —        —        —        —        —        —        —   

{16} Fifth Allocation of Principal

 

     {16}       —        —        —        —        —        —        —        —   

{17} Regular Allocation of Principal

 

     {17}       —        —        —        —        —        —        7,988,406.05       7,988,406.05  

{18} Optional Purchase payment

 

     {18}       —        —        —        —        —        —        —        —   

{19} End of period Note Balance

 

     {19}       —        —        —        —        —        —        67,029,049.79       67,029,049.79  

{20} Note Pool Factors

 

     {20}       —        —        —        —        —        —        0.544155       0.041295  

{21} Principal payment per $1,000

 

     {21}       —        —        —        —        —        —        64.85       4.92  

III. RECONCILIATION OF COLLECTION ACCOUNT

 

            

Available Funds

 

            

{22} Principal Payments Received

 

           {22}       7,848,818.05    

{23} Net Liquidation Proceeds

 

           {23}       885,262.79    

{24} Principal on Repurchased Receivables

 

           {24}       —     

{25} Interest on Repurchased Receivables

 

           {25}       —     

{26} Interest collected on Receivables

 

           {26}       1,368,346.00    

{27} Other amounts received

 

           {27}       16,132.15    

{28} Optional Purchase Price

 

           {28}       —     

{29} Reserve Account Excess Amount

 

           {29}       —     

{30} Reserve Account Draw Amount

 

           {30}       —     

{31} Total Available Funds

 

             {31}       10,118,558.99  

Distributions

 

            

{32} Indenture Trustee Fee

 

           {32}       —     

{33} Owner Trustee Fee

 

           {33}       —     

{34} Asset Representations Reviewer Fee

 

           {34}       —     

Servicing Fee

 

            
    Calculated
Fee		   Carryover
Shortfall		     Change from
prior period		     Total                                            

{35}

   285,663.87     —        —        285,663.87               {35}       285,663.87    

Class A Accrued Note Interest

 

            
    Class   Beginning
Note Balance		     Interest Rate     Days     Days
Basis		     Calculated
Interest		                                

{36}

   Class A-1     —        0.22356 %      31       ACT / 360       —            {36}       —     

{37}

   Class A-2     —        0.42 %      30       30 / 360       —            {37}       —     

{38}

   Class A-3     —        0.48 %      30       30 / 360       —            {38}       —     

Class A Accrued Note Interest

 

            
    Class   Carryover
Shortfall		     Change from
prior period		     Carryover
Shortfall
per $1,000		                                            

{39}

   Class A-1     —        —        —                {39}       —     

{40}

   Class A-2     —        —        —                {40}       —     

{41}

   Class A-3     —        —        —                {41}       —     

{42} First Allocation of Principal

 

           {42}       —     

Class B Accrued Note Interest

 

            
    Class   Beginning
Note Balance		     Interest Rate     Days     Days
Basis		     Calculated
Interest		                                

{43}

   Class B     —        0.73 %      30       30 / 360       —            {43}       —     

Class B Accrued Note Interest

 

            
    Class   Carryover
Shortfall		     Change from
prior period		     Carryover
Shortfall
per $1,000		                                            

{44}

   Class B     —        —        —                {44}       —     

{45} Second Allocation of Principal

 

           {45}       —     

Class C Accrued Note Interest

 

            
    Class   Beginning
Note Balance		     Interest Rate     Days     Days
Basis		     Calculated
Interest		                                

{46}

   Class C     —        1.01 %      30       30 / 360       —            {46}       —     

Class C Accrued Note Interest

 

            
    Class   Carryover
Shortfall		     Change from
prior period		     Carryover
Shortfall
per $1,000		                                            

{47}

   Class C     —        —        —                {47}       —     

{48} Third Allocation of Principal

 

           {48}       —     

Class D Accrued Note Interest

 

            
    Class   Beginning
Note Balance		     Interest Rate     Days     Days
Basis		     Calculated
Interest		                                

{49}

   Class D     —        1.48 %      30       30 / 360       —            {49}       —     

Class D Accrued Note Interest

 

            
    Class   Carryover
Shortfall		     Change from
prior period		     Carryover
Shortfall
per $1,000		                                            

{50}

   Class D     —        —        —                {50}       —     

{51} Fourth Allocation of Principal

 

           {51}       —     

Class E Accrued Note Interest

 

            
    Class   Beginning
Note Balance		     Interest Rate     Days     Days
Basis		     Calculated
Interest		                                

{52}

   Class E     75,017,455.84       2.85 %      30       30 / 360       178,166.46           {52}       178,166.46    

Class E Accrued Note Interest

 

            
    Class   Carryover
Shortfall		     Change from
prior period		     Carryover
Shortfall
per $1,000		                                            

{53}

   Class E     —        —        —                {53}       —     

{54} Fifth Allocation of Principal

 

         {54}       —     

{55} Reserve Account deposit

 

         {55}       —     

{56} Regular Allocation of Principal

 

         {56}       7,988,406.05    

{57} Optional Purchase Amount

 

         {57}       —     

{58} Distribution to Residual Interestholder

 

         {58}       1,666,322.61    

{59} Total Distribution Amount

 

           {59}       10,118,558.99  

IV. RECONCILIATION OF RESERVE ACCOUNT

 

          

{60} Beginning of period Reserve Account balance

 

     {60}       35,190,959.13        

{61} Deposit to Reserve Account

 

     {61}       —         

{62} Release from Reserve Account

 

     {62}       —         

{63} End of period Reserve Account balance

 

           {63}       35,190,959.13  

{64} Specified Reserve Account Balance (2.00% of the Pool Balance as of the Cut-Off Date)

 

           {64}       35,190,959.13  

{65} Change in Reserve Account balance from prior period

 

           {65}       —   

V. OVERCOLLATERALIZATION

 

          

{66} Targeted Overcollateralization equal to the sum of:

 

           {66}       38,235,478.82  

{67} (a) Prior to the Class A-2 Notes being paid in full, 12.25% of the Principal Balance of the Receivables at the end of the Collection Period

 

         {67}       NA    

{68} (a) Following the Class A-2 Notes having been paid in full, 11.25% of the Principal Balance of the Receivables at the end of the Collection Period and

 

         {68}       11,842,259.47    

{69} (b) 1.50% of the Principal Balance of the Receivables as of the Cut-off Date

 

         {69}       26,393,219.35    

{70} End of period Principal Balance of the Receivables

 

           {70}       105,264,528.61  

{71} End of period Note Balance

 

           {71}       67,029,049.79  

{72} Overcollateralization amount at the end of the Collection Period

 

           {72}       38,235,478.82  

{73} Overcollateralization % at the end of the Collection Period

 

           {73}       36.32 % 

VI. STATISTICAL DATA

 

          
                  Original     Previous     Current  

{74} Principal Balance of the Receivables

 

       {74}       1,759,547,956.45       114,265,549.51       105,264,528.61  

{75} Weighted average coupon of the Receivables

 

       {75}       14.84 %      14.57 %      14.63 % 

{76} Weighted average original term of the Receivables

 

       {76}       70.91       72.27       72.30  

{77} Weighted average remaining term of the Receivables

 

       {77}       69.07       18.17       17.30  

{78} Number of Receivables

 

       {78}       76,183       15,009.00       14,450  

VII. DELINQUENCY

 

          
                  Units     Dollars     Percentage  

Receivables with Scheduled Payment Delinquent

 

          

{79} 31-60 days

 

       {79}       1,718       16,458,975.95       15.64 % 

{80} 61-90 days

 

       {80}       790       7,793,975.85       7.40 % 

{81} 91-120 days

 

       {81}       211       2,020,319.09       1.92 % 

{82} 121 + days delinquent

 

       {82}       —        —        0.00 % 

{83} Total

 

       {83}       2,719       26,273,270.89       24.96 % 

{84} Aggregate Principal Balance of 60 Day Delinquent Receivables (all Receivables that are 60 or more days delinquent as of End of Collection Period)

 

       {84}       10,700,039.57  

{85} Delinquency Percentage as of the End of the Collection Period

 

           {85}       10.16 % 

{86} Delinquency Trigger

 

           {86}       24.00 % 

{87} Delinquency Trigger Occurred

 

           {87}       No  

VIII. REPOSSESSION INVENTORY

 

          
                        Units     Dollars  

{88} Beginning of period Repossessed Inventory

 

         {88}       134       1,840,864.52  

{89} Vehicles Repossessed in current period

 

         {89}       96       1,077,618.99  

{90} Repossessed vehicles sold in current period

 

         {90}       89       1,138,735.96  

{91} Repossessed vehicles reinstated in current period

 

         {91}       33       300,715.96  

{92} Repossessed vehicle adjustment in current period

 

         {92}       —        (6,380.89 ) 

{93} End of period Repossessed Inventory

 

         {93}       108       1,472,650.70  

IX. CUMULATIVE NET LOSS RATIO

       
                Units (a)     Dollars (a)  

{94} Receivables becoming Defaulted Receivables during period

      {94}       111       1,146,041.75  

{95} Cram Down Losses occurring during period

      {95}       3       6,161.10  

{96} Net Liquidation Proceeds collected during period

      {96}       615       885,262.79  

{97} Net losses during period

      {97}         266,940.06  

(a) Unit count represents # instances in period per loan per line item

       
          Net Loss
for Period		     Avg. Portfolio
Balance (b)		     Net Loss
Ratio (c)		  

{98} Current Period Net Loss Ratio

     {98}       266,940.06       109,765,039.06       0.24 % 

{99} Prior Period Net Loss Ratio

     {99}       92,600.05       118,670,879.60       0.08 % 

{100} Second Prior Period Net Loss Ratio

     {100}       342,119.74       127,902,712.75       0.27 % 

{101} Third Prior Period Net Loss Ratio

     {101}       27,667.68       137,646,409.49       0.02 % 

{102} Rolling 3 prior month average Net Loss Ratio

     {102}           0.12 % 

(b) Average Portfolio Balance calculated using (Beginning of Period Aggregate Balance + End of Period Aggregate Balance)/2

       

(c) Net Loss Ratio calculated using Net Loss for Period/Average Portfolio Balance for Period

 

    

{103} Cumulative Net losses since Cut-off Date (beginning of period)

 

     {103}       85,093,815.27  

{104} Net losses during period

 

     {104}       266,940.06  

{105} Other Adjustments

 

     {105}       —   

{106} Cumulative Net losses since Cut-off Date (end of period)

 

     {106}       85,360,755.33  

{107} Cumulative Net Loss Ratio (Net losses since the Cut-off Date / Pool Balance as of the Cut-off Date)

 

     {107}       4.85 % 

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this monthly Statement to Noteholders as dated below.

 

Santander Consumer USA Inc., as Servicer
By:  

/s/ Craig Shmoldas

Name:   Craig Shmoldas
Title:   Senior Vice President
Date:   August 13, 2025