8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 9, 2016

SANTANDER CONSUMER USA HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Delaware (State or other Jurisdiction of Incorporation)	001-36270 (Commission File Number)		32-0414408 (IRS Employer Identification No.)
1601 Elm St. Suite #800 Dallas, Texas (Address of Principal Executive Offices)		75201 (Zip Code)

Registrant’s telephone number, including area code: (214) 634-1110

n/a

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

£    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

£    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

£    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

£    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On November 9, 2016, Santander Consumer USA Holdings Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2016. Copies of the Company’s press release and an investor presentation for the quarter ended September 30, 2016 are attached hereto as Exhibits 99.1 and 99.2, respectively, and incorporated herein by reference.

Note: Information in this report (including Exhibits 99.1 and 99.2) furnished pursuant to Item 2.02 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section.

Item 9.01. Financial Statements and Exhibits.

Exhibit No.Description

Exhibit 99.1    Press Release of Santander Consumer USA Holdings Inc., dated November 9, 2016.

Exhibit 99.2    Presentation Materials of Santander Consumer USA Holdings Inc., dated November 9, 2016.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: November 9, 2016 SANTANDER CONSUMER USA HOLDINGS INC. By: /s/ Jason A. Kulas                               Name: Jason A. Kulas Title: Chief Executive Officer

EX-99.1

Exhibit 99.1

Contacts: Investor Relations Evan Black  800.493.8219 InvestorRelations@santanderconsumerusa.com Media Relations Laurie Kight 214.801.6455 SCMedia@santanderconsumerusa.com

Santander Consumer USA Holdings Inc. Reports Third Quarter2016 Results

Dallas, TX (November 9, 2016) – Santander Consumer USA Holdings Inc. (NYSE: SC) (“SC”) today announced net income for third quarter2016 of $214 million, or $0.59 per diluted common share.

Third Quarter 2016 Key Highlights (variances compared to third quarter 2015):

• One-time tax benefit of $11 million, or $0.03 per diluted common share

• Total auto originations of $5.2 billion

• Chrysler Capital lease originations of $1.3 billion, down 17%

• Chrysler Capital retail originations of $1.9 billion, down 39%

• Core retail auto originations of $2.0 billion, down 29%

• Net finance and other interest income of $1.2 billion, down 3%

• Return on average assets of 2.2%

• Return on average equity 17.1%

• Expense ratio of 2.2%, up 10 bps

• Average managed assets of $52.7 billion, up 3%

• Common equity tier 1 (CET1) ratio of 13.1%, up 160 bps

“We are pleased to report solid core financial performance in the third quarter in light of the competitive marketplace. Fewer originations are in part due to our disciplined underwriting standards as we are committed to driving originations at the right price and structure, and in part due to increased competition in the prime space,” said Jason Kulas, President and Chief Executive Officer. “We are finalizing a strategic agreement with Banco Santander to originate and flow prime and near-prime retail loan assets. This strategy should strengthen our overall relationship with Fiat Chrysler (FCA) and our Chrysler Capital volume, as well as our serviced for others strategy.”

Mr. Kulas continued, “Our commitment to building a culture of compliance and putting customers at the center of everything we do is the foundation of our continued success. We remain confident in our ability to execute our business plan and deliver value for all our stakeholders and customers through market cycles.”

Finance receivables, loans and leases, net¹, increased 6.1 percent, to $34.7 billion at September 30, 2016, from $32.7 billion at December 31, 2015, driven by an increase in lease assets. Net finance and other interest income decreased 3 percent to $1.18 billion in the third quarter2016 from $1.22 billion in the third quarter 2015, primarily driven by a shift in credit mix as a result of disciplined underwriting standards, and higher cost of funds, driven by an increase in spreads and benchmark rates.

SC’s average annual percentage rate (APR) as of the end of the third quarter2016 for retail installment contracts (RICs) held for investment was 16.4 percent, down from 16.9 percent as of the end of the third quarter2015. These APRs are consistent with credit trends in our held for investment portfolio. As of the end of the third quarter 2016, RICs with FICO^® scores less than 540 decreased to 22.2 percent, from 23.8 percent as of the end of the third quarter 2015. In addition, RICs with FICO^®scores greater than 640 increased to 13.8 percent, from 12.6 percent.

¹ Includes Finance receivables held for investment, Finance receivables held for sale and Leased vehicles

1

Net leased vehicle income increased 47 percent to $135.8 million in the third quarter 2016 from $92.7 million in the third quarter 2015 as a result of the continued growth of our leasing portfolio.

The allowance ratio² increased to 12.4 percent as of September 30, 2016, from 11.9 percent as of December 31, 2015, primarily driven by the increased balance of loans classified as troubled debt restructurings (TDRs). A TDR is an accounting classification for assets that meet certain loan modification or extension criteria. Loan modifications and extensions are utilized to offer assistance to some customers experiencing temporary hardship. Under GAAP, the allowance for assets classified as TDRs takes into consideration expected lifetime losses. The allowance ratio as of September 30, 2016 is down from the June 30, 2016 ratio of 12.6%.

SC’s RIC net charge-off and delinquency ratio³ increased to 8.7 percent and 4.6 percent, respectively, for the third quarter 2016 from 8.2 percent and 3.8 percent, respectively, for the third quarter 2015. The increases in the net charge-off and delinquency ratios, and in TDR balances, are driven by the aging of the more nonprime 2015 vintage, and slower portfolio growth since the prior year third quarter.

“More recently our asset mix has shifted toward higher credit quality originations, which has impacted APR, and should market conditions persist, positively impact charge-offs and delinquency in the future,” said Izzy Dawood, Chief Financial Officer.

Provision for credit losses decreased to $610 million in the third quarter2016, from $724 million in the third quarter 2015, driven primarily by the classification of the personal loan portfolio as held for sale in the prior year quarter. Excluding personal lending, provision decreased $8 million versus the prior year quarter.

In the third quarter 2016, SC recorded net investment losses of $106 million, compared to investment gains of $23 million in the third quarter 2015. The current period losses were primarily driven by $98 million of lower of cost or market adjustments related to the held for sale personal lending portfolio, including $114 million in customer default activity and a $19 million decrease in market discount. As mentioned in the prior paragraph, in the third quarter 2016, personal lending activity was included in net investment gains (losses) rather than provision for credit losses due to the classification of the personal lending assets as held for sale. Excluding the impact of personal lending, investment losses totaled $10 million.

During the quarter, SC incurred $284 million of operating expenses, up 9 percent from $261 million in the third quarter 2015 driven by higher repossession activity and increased headcount. SC's expense ratio for the quarter increased slightly to 2.2 percent, up from 2.1 percent during the same period last year.

In line with SC’s strategy to leverage its scalable servicing platform and increase servicing fee income, SC executed asset sales of $794 million during the third quarter through existing loan sale programs, under which it retains servicing. The serviced for others portfolio of $12.2 billion as of September 30, 2016, is down 18 percent from September 30, 2015. Servicing fee income increased 1 percent to $36.4 million in the third quarter 2016, from $35.9 million in the third quarter 2015, driven by the sale of seasoned nonprime RICs and associated assets, which carry a higher servicing fee, during the prior year quarter.

² Excludes end of period balances on purchased receivables portfolio of $253 million and finance receivables held for sale of $2.6 billion

³ Net charge-off ratio stated on a recorded investment basis which is unpaid principal balance adjusted for unaccreted net discounts, subvention and origination costs

2

Conference Call Information

SC management will host a conference call and webcast to discuss the third quarter results and other general matters at 9 a.m. Eastern Time on Wednesday, November 9, 2016. The conference call will be accessible by dialing 877-604-9668 (U.S. domestic), or 719-325-4870 (international), conference ID 2258671. Please dial in 10 minutes prior to the start of the call. The conference call will also be accessible via live audio webcast through the Investor Relations section of the corporate website at http://investors.santanderconsumerusa.com. Choose “Events” and select the information pertaining to the Q3 2016 Earnings Call. Additionally there will be several slides accompanying the webcast. Please allow at least 15 minutes prior to the call to register, download and install any necessary software.

For those unable to listen to the live broadcast, a replay will be available on the company’s website or by dialing 844-512-2921 (U.S. domestic), or 412-317-6671 (international), conference ID 2258671, approximately two hours after the event. The dial-in replay will be available for two weeks after the conference call, and the webcast replay will be available through November 23, 2016. An investor presentation will also be available by visiting the Investor Relations page of SC’s website at http://investors.santanderconsumerusa.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as anticipates, believes, can, could, may, predicts, potential, should, will, estimates, plans, projects, continuing, ongoing, expects, intends, and similar words or phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements are not guarantees of future performance and involve risks and uncertainties that are subject to change based on various important factors, some of which are beyond our control. For additional discussion of these risks, refer to the section entitled Risk Factors and elsewhere in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q filed by us with the U.S. Securities and Exchange Commission (SEC). Among the factors that could cause the forward-looking statements in this press release and/or our financial performance to differ materially from that suggested by the forward-looking statements are (a) the inherent limitations in internal controls over financial reporting; (b) our ability to remediate any material weaknesses in internal controls over financial reporting completely and in a timely manner; (c) continually changing federal, state, and local laws and regulations could materially adversely affect our business; (d) adverse economic conditions in the United States and worldwide may negatively impact our results; (e) our business could suffer if our access to funding is reduced; (f) significant risks we face implementing our growth strategy, some of which are outside our control; (g) unexpected costs and delays in connection with exiting our personal lending business; (h) our agreement with Fiat Chrysler Automobiles US LLC may not result in currently anticipated levels of growth and is subject to certain performance conditions that could result in termination of the agreement; (i) our business could suffer if we are unsuccessful in developing and maintaining relationships with automobile dealerships; (j) our financial condition, liquidity, and results of operations depend on the credit performance of our loans; (k) loss of our key management or other personnel, or an inability to attract such management and personnel; (l) certain regulations, including but not limited to oversight by the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, the European Central Bank, and the Federal Reserve, whose oversight and regulation may limit certain of our activities, including the timing and amount of dividends and other limitations on our business; and (m) future changes in our relationship with Banco Santander that could adversely affect our operations. If one or more of the factors affecting our forward-looking information and statements proves incorrect, our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements. Therefore, we caution not to place undue reliance on any forward-looking information or statements. The effect of these factors is difficult to predict. Factors other than these also could adversely affect our results, and the reader should not consider these factors to be a complete set of all potential risks or uncertainties. New factors emerge from time to time, and management cannot assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements only speak as of the date of this document, and we undertake no obligation to update any forward-looking information or statements, whether written or oral, to reflect any change, except as required by law. All forward-looking statements attributable to us are expressly qualified by these cautionary statements.

About Santander Consumer USA Holdings Inc.

Santander Consumer USA Holdings Inc. (NYSE: SC) (“SC”) is a full-service, technology-driven consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to our more than 2.7 million customers across the full credit spectrum. The company, which began originating retail installment contracts in 1997, has a managed assets portfolio of more than $52 billion (as of September 30, 2016), and is headquartered in Dallas. (www.santanderconsumerusa.com)

3

Santander Consumer USA Holdings Inc.

Financial Supplement

Third Quarter 2016

Table of Contents
Table 1: Condensed Consolidated Balance Sheets	5
Table 2: Condensed Consolidated Statements of Income	6
Table 3: Other Financial Information	7
Table 4: Credit Quality	9
Table 5: Originations	10
Table 6: Asset Sales	11
Table 7: Ending Portfolio	12

4

Table 1: Condensed Consolidated Balance Sheets

	September 30, 2016			December 31, 2015
Assets	(Unaudited, Dollars in thousands, except per share amounts)
Cash and cash equivalents	$	75,873		$	18,893
Finance receivables held for sale, net	2,572,429			2,859,575
Finance receivables held for investment, net	23,686,391			23,367,788
Restricted cash	2,696,500			2,236,329
Accrued interest receivable	369,543			395,387
Leased vehicles, net	8,467,129			6,497,310
Furniture and equipment, net	62,378			58,007
Federal, state and other income taxes receivable	101,284			267,636
Related party taxes receivable	85			71
Goodwill	74,056			74,056
Intangible assets	33,028			33,016
Due from affiliates	46,333			58,599
Other assets	586,607			582,291
Total assets	$	38,771,636		$	36,448,958
Liabilities and Equity
Liabilities:
Notes payable — credit facilities	$	8,299,229		$	6,902,779
Notes payable — secured structured financings	21,150,666			20,872,900
Notes payable — related party	2,350,000			2,600,000
Accrued interest payable	28,796			22,544
Accounts payable and accrued expenses	354,864			413,269
Federal, state and other income taxes payable	14,038			2,462
Deferred tax liabilities, net	1,227,179			881,225
Due to affiliates	54,848			58,148
Other liabilities	174,359			263,082
Total liabilities	33,653,979			32,016,409
Equity:
Common stock, $0.01 par value	3,584			3,579
Additional paid-in capital	1,652,786			1,644,151
Accumulated other comprehensive income (loss), net	(26,598		)	2,125
Retained earnings	3,487,885			2,782,694
Total stockholders’ equity	5,117,657			4,432,549
Total liabilities and equity	$	38,771,636		$	36,448,958

5

Table 2: Condensed Consolidated Statements of Income

	Three Months Ended   September 30,					Nine Months Ended   September 30,
	2016			2015		2016			2015
	(Unaudited, Dollars in thousands, except per share amounts)
Interest on finance receivables and loans	$	1,246,386		$	1,285,085	$	3,804,322		$	3,761,757
Leased vehicle income	388,501			267,211		1,086,651			742,684
Other finance and interest income	3,638			9,334		11,440			23,413
Total finance and other interest income	1,638,525			1,561,630		4,902,413			4,527,854
Interest expense	207,175			171,420		590,504			470,898
Leased vehicle expense	252,730			174,545		717,230			518,165
Net finance and other interest income	1,178,620			1,215,665		3,594,679			3,538,791
Provision for credit losses	610,398			723,922		1,782,489			1,935,148
Net finance and other interest income after provision for credit losses	568,222			491,743		1,812,190			1,603,643
Profit sharing	6,400			11,818		35,640			46,835
Net finance and other interest income after provision for credit losses and profit sharing	561,822			479,925		1,776,550			1,556,808
Investment gains (losses), net	(106,050		)	22,684		(276,415		)	133,998
Servicing fee income	36,447			35,910		123,929			88,756
Fees, commissions, and other	96,285			95,742		294,028			296,476
Total other income	26,682			154,336		141,542			519,230
Compensation expense	128,056			114,070		371,242			325,583
Repossession expense	75,920			60,770		217,816			175,066
Other operating costs	80,508			86,447		258,509			263,978
Total operating expenses	284,484			261,287		847,567			764,627
Income before income taxes	304,020			372,974		1,070,525			1,311,411
Income tax expense	90,473			136,539		365,334			467,816
Net income	$	213,547		$	236,435	$	705,191		$	843,595
Net income per common share (basic)	$	0.60		$	0.66	$	1.97		$	2.38
Net income per common share (diluted)	$	0.59		$	0.66	$	1.96		$	2.38
Weighted average common shares (basic)	358,343,781			357,846,564		358,179,618			354,150,973
Weighted average common shares (diluted)	360,087,749			359,108,197		359,635,034			354,735,772

6

Table 3: Other Financial Information

		Three Months Ended   September 30,						Nine Months Ended   September 30,
		2016			2015			2016			2015
Ratios		(Unaudited, Dollars in thousands)
	Yield on individually acquired retail installment contracts	15.9		%	16.7		%	16.2		%	16.8		%
	Yield on purchased receivables portfolios	26.7		%	14.3		%	26.0		%	14.3		%
	Yield on receivables from dealers	6.7		%	5.2		%	5.2		%	5.0		%
	Yield on personal loans (1)	23.4		%	20.0		%	21.8		%	20.5		%
	Yield on earning assets (2)	13.8		%	15.0		%	14.2		%	15.0		%
	Cost of debt (3)	2.6		%	2.3		%	2.5		%	2.1		%
	Net interest margin (4)	11.8		%	13.1		%	12.2		%	13.2		%
	Expense ratio (5)	2.2		%	2.1		%	2.1		%	2.1		%
	Return on average assets (6)	2.2		%	2.6		%	2.5		%	3.2		%
	Return on average equity (7)	17.1		%	22.2		%	19.8		%	28.2		%
	Net charge-off ratio on individually acquired retail installment contracts (8)	8.7		%	8.2		%	7.4		%	5.9		%
	Net charge-off ratio on purchased receivables portfolios (8)	0.4		%	1.3		%	(0.4		)%	(1.3		)%
	Net charge-off ratio on receivables from dealers (8)	—			—			0.2		%	—
	Net charge-off ratio on personal loans (8)***	—			85.9		%	—			40.8		%
	Net charge-off ratio (8)	8.3		%	13.8		%	6.9		%	8.4		%
	Delinquency ratio on individually acquired retail installment contracts held for investment, end of period (9)	4.6		%	3.8		%	4.6		%	3.8		%
	Delinquency ratio on personal loans, end of period (9)	13.4		%	7.3		%	13.4		%	7.3		%
	Delinquency ratio on loans held for investment, end of period (9)	4.6		%	3.8		%	4.6		%	3.8		%
	Allowance ratio (10)	12.4		%	11.1		%	12.4		%	11.1		%
	Common Equity Tier 1 capital ratio (11)	13.1		%	11.5		%	13.1		%	11.5		%
Other Financial Information
	Charge-offs, net of recoveries, on individually acquired retail installment contracts	$	630,847		$	564,820		$	1,583,406		$	1,184,245
	Charge-offs, net of recoveries, on purchased receivables portfolios	254			1,563			(807		)	(6,103		)
	Charge-offs, net of recoveries, on receivables from dealers	—			—			135			—
	Charge-offs, net of recoveries, on personal loans***	—			490,548			—			673,294
	Charge-offs, net of recoveries, on capital leases	2,095			3,027			7,165			11,048
	Total charge-offs, net of recoveries	$	633,196		$	1,059,958		$	1,589,899		$	1,862,484
	End of period Delinquent principal over 60 days, individually acquired retail installment contracts held for investment	$	1,260,255		$	1,012,042		$	1,260,255		$	1,012,042
	End of period Delinquent principal over 60 days, personal loans	$	179,443		$	165,759		$	179,443		$	165,759
	End of period Delinquent principal over 60 days, loans held for investment	$	1,267,950		$	1,034,471		$	1,267,950		$	1,034,471
	End of period assets covered by allowance for credit losses	$	27,490,290		$	26,907,346		$	27,490,290		$	26,907,346
	End of period Gross finance receivables and loans held for investment	$	27,706,307		$	27,319,991		$	27,706,307		$	27,319,991
	End of period Gross finance receivables, loans, and leases held for investment	$	37,295,993		$	34,188,834		$	37,295,993		$	34,188,834
	Average Gross individually acquired retail installment contracts	$	28,970,039		$	27,687,564		$	28,710,402		$	26,596,429
	Average Gross purchased receivables portfolios	266,749			467,643			301,026			618,362
	Average Gross receivables from dealers	70,392			81,490			72,735			93,817
	Average Gross personal loans	1,343,099			2,284,951			1,572,297			2,201,551
	Average Gross capital leases	39,974			120,334			49,625			122,366
	Average Gross finance receivables, loans and capital leases	$	30,690,253		$	30,641,982		$	30,706,085		$	29,632,525
	Average Gross finance receivables, loans, and leases	$	40,037,873		$	37,040,857		$	39,299,213		$	35,701,048
	Average Managed assets	$	52,675,379		$	50,961,182		$	52,983,740		$	47,812,496
	Average Total assets	$	38,473,832		$	36,035,588		$	37,844,330		$	34,753,501
	Average Debt	$	31,671,237		$	30,416,494		$	31,343,204		$	29,575,308
	Average Total equity	$	4,994,511		$	4,268,855		$	4,736,826		$	3,991,071

7

(1) Includes Finance and other interest income; excludes fees

(2) “Yield on earning assets” is defined as the ratio of annualized Total finance and other interest income, net of Leased vehicle expense, to Average gross finance receivables, loans and leases

(3) “Cost of debt” is defined as the ratio of annualized Interest expense to Average debt

(4) “Net interest margin” is defined as the ratio of annualized Net finance and other interest income to Average gross finance receivables, loans and leases

(5) “Expense ratio” is defined as the ratio of annualized Operating expenses to Average managed assets

(6) “Return on average assets” is defined as the ratio of annualized Net income to Average total assets

(7) “Return on average equity” is defined as the ratio of annualized Net income to Average total equity

(8) “Net charge-off ratio” is defined as the ratio of annualized Charge-offs, on a recorded investment basis, net of recoveries, to average unpaid principal balance of the respective portfolio

(9) “Delinquency ratio” is defined as the ratio of End of period Delinquent principal over 60 days to End of period gross balance of the respective portfolio, excludes capital leases

(10) “Allowance ratio” is defined as the ratio of Allowance for credit losses, which excludes impairment on purchased receivables portfolios, to End of period assets covered by allowance for credit losses

(11) “Common Equity Tier 1 Capital ratio” is a non-GAAP ratio defined as the ratio of Total common equity tier 1 capital to Total risk-weighted assets

***Total charge-offs, net of recoveries, on personal loans for the three and nine months ended September 30, 2015 includes non-recurring impairment charge of $377,598. Adjusted ratio totals 19.8% and 17.9%, respectively.

8

Table 4: Credit Quality

Amounts related to our individually acquired retail installment contracts as of and for the three and nine months ended September 30, 2016 and 2015, are as follows:

(Unaudited, Dollars in thousands)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Credit loss allowance — beginning of period	$	3,422,736		$	2,927,624		$	3,197,414		$	2,586,685
Provision for credit losses	609,396			619,895			1,787,277			1,607,376
Charge-offs	(1,246,760		)	(1,062,598		)	(3,429,905		)	(2,753,753		)
Recoveries	615,913			497,778			1,846,499			1,569,508
Transfers to held-for-sale	—			—			—			(27,117		)
Credit loss allowance — end of period	$	3,401,285		$	2,982,699		$	3,401,285		$	2,982,699
Net charge-offs	$	630,847		$	564,820		$	1,583,406		$	1,184,245
Average unpaid principal balance (UPB)	28,970,039			27,687,564			28,710,402			26,596,429
Charge-off ratio1	8.7		%	8.2		%	7.4		%	5.9		%

	September 30, 20162				December 31, 20152
Principal 31-60 days past due	$	2,536,940	9.3	%	$	2,454,986	9.1	%
Delinquent principal over 60 days	1,260,255		4.6	%	1,191,567		4.4	%
Total delinquent contracts	$	3,797,195	13.9	%	$	3,646,553	13.6	%

	September 30, 2016			December 31, 2015
TDR - Unpaid principal balance	$	5,332,767		$	4,579,931
TDR - Impairment	1,588,028			1,363,023
TDR allowance ratio	29.8		%	29.8		%
Non-TDR - Unpaid principal balance	$	22,038,228		$	22,284,015
Non-TDR - Allowance	1,813,257			1,834,391
Non-TDR allowance ratio	8.2		%	8.2		%
Total - Unpaid principal balance	$	27,370,995		$	26,863,946
Total - Allowance	3,401,285			3,197,414
Total allowance ratio	12.4		%	11.9		%

¹“Net charge-off ratio” is defined as the ratio of annualized Charge-offs, on a recorded investment basis, net of recoveries, to average unpaid principal balance of the respective portfolio

²Percent of unpaid principal balance.

9

Table 5: Originations

	Three Months Ended						Nine Months Ended						Three Months Ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015			June 30, 2016
Retained Originations	(Unaudited, Dollar amounts in thousands)
Retail installment contracts	$	3,281,112		$	4,650,381		$	10,545,592		$	13,602,409		$	3,176,087
Average APR	14.7		%	16.1		%	15.1		%	17.2		%	14.0		%
Average FICO® (a)	612			596			606			584			624
Discount	0.1		%	1.1		%	0.4		%	2.1		%	0.2		%
Personal loans	$	—		$	158,328		$	9,281		$	582,735		$	9,272
Average APR	—			21.0		%	25.0		%	19.4		%	25.0		%
Discount	—			—			—			—			—
Leased vehicles	$	1,300,375		$	1,568,104		$	4,612,284		$	4,122,527		$	1,694,829
Capital lease receivables	$	2,319		$	1,103		$	5,977		$	64,906		$	1,805
Total originations retained	$	4,583,806		$	6,377,916		$	15,173,134		$	18,372,577		$	4,881,993
Sold Originations (b)
Retail installment contracts	$	580,242		$	1,243,456		$	2,201,659		$	3,580,539		$	547,007
Average APR	3.2		%	2.4		%	3.0		%	4.1		%	3.6		%
Average FICO® (c)	760			753			759			745			754
Total originations sold	$	580,242		$	1,243,456		$	2,201,659		$	3,580,539		$	547,007
Total SC originations	$	5,164,048		$	7,621,372		$	17,374,793		$	21,953,116		$	5,429,000
Facilitated Originations
Leased vehicles	$	—		$	—		$	—		$	632,471		$	—
Total originations	$	5,164,048		$	7,621,372		$	17,374,793		$	22,585,587		$	5,429,000

(a) Unpaid principal balance excluded from the weighted average FICO score is $492 million, $938 million, $1.8 billion, $2.7 billion and $509 million for the three months ended September 30, 2016 and 2015, the nine months ended September 30, 2016 and 2015, and the threemonths ended June 30, 2016, respectively, as the borrowers on these loans did not have FICO scores at origination.

(b) Only includes assets both originated and sold in the period. Total asset sales for the period are shown in Table 6.

(c) Unpaid principal balance excluded from the weighted average FICO score is $59 million, $160 million, $263 million, $391 million and $64 million for the three months ended September 30, 2016 and 2015, the nine months ended September 30, 2016 and 2015, and the threemonths ended June 30, 2016, respectively, as the borrowers on these loans did not have FICO scores at origination.

10

Table 6: Asset Sales

Asset sales may include assets originated in prior periods.

	Three Months Ended						Nine Months Ended						Three Months Ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015			June 30, 2016
	(Unaudited, Dollar amounts in thousands)
Retail installment contracts	$	793,804		$	3,057,654		$	2,312,983		$	5,993,407		$	659,224
Average APR	3.0		%	10.7		%	2.9		%	8.0		%	3.5		%
Average FICO®	762			661			762			694			758
Personal loans	$	—		$	—		$	869,349		$	—		$	—
Average APR	—			—			17.9		%	—			—
Leased vehicles	$	—		$	—		$	—		$	1,316,958		$	—
Total asset sales	$	793,804		$	3,057,654		$	3,182,332		$	7,310,365		$	659,224

11

Table 7: Ending Portfolio

Ending outstanding balance, average APR and remaining unaccreted discount of our held for investment portfolio as of September 30, 2016, and December 31, 2015, are as follows:

	September 30, 2016			December 31, 2015
	(Unaudited, Dollar amounts in thousands)
Retail installment contracts	$	27,624,259		$	27,223,768
Average APR	16.4		%	16.8		%
Discount	2.3		%	2.7		%
Personal loans	$	11,682		$	941
Average APR	24.1		%	20.9		%
Receivables from dealers	$	70,366		$	76,941
Average APR	4.7		%	4.6		%
Leased vehicles	$	9,552,439		$	7,326,296
Capital leases	$	37,247		$	66,929

12

EX-99.2

11.09.2016 SANTANDER CONSUMER USA HOLDINGS INC. Third Quarter 2016

2IMPORTANT INFORMATION Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as anticipates, believes, can, could, may, predicts, potential, should, will, estimates, plans, projects, continuing, ongoing, expects, intends, and similar words or phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements are not guarantees of future performance and involve risks and uncertainties that are subject to change based on various important factors, some of which are beyond our control. For additional discussion of these risks, refer to the section entitled Risk Factors and elsewhere in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q filed by us with the U.S. Securities and Exchange Commission (SEC). Among the factors that could cause the forward-looking statements in this press release and/or our financial performance to differ materially from that suggested by the forward-looking statements are (a) the inherent limitations in internal controls over financial reporting; (b) our ability to remediate any material weaknesses in internal controls over financial reporting completely and in a timely manner; (c) continually changing federal, state, and local laws and regulations could materially adversely affect our business; (d) adverse economic conditions in the United States and worldwide may negatively impact our results; (e) our business could suffer if our access to funding is reduced; (f) significant risks we face implementing our growth strategy, some of which are outside our control; (g) unexpected costs and delays in connection with exiting our personal lending business; (h) our agreement with Fiat Chrysler Automobiles US LLC may not result in currently anticipated levels of growth and is subject to certain performance conditions that could result in termination of the agreement; (i) our business could suffer if we are unsuccessful in developing and maintaining relationships with automobile dealerships; (j) our financial condition, liquidity, and results of operations depend on the credit performance of our loans; (k) loss of our key management or other personnel, or an inability to attract such management and personnel; (l) certain regulations, including but not limited to oversight by the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, the European Central Bank, and the Federal Reserve, whose oversight and regulation may limit certain of our activities, including the timing and amount of dividends and other limitations on our business; and (m) future changes in our relationship with Banco Santander that could adversely affect our operations. If one or more of the factors affecting our forward-looking information and statements proves incorrect, our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements. Therefore, we caution not to place undue reliance on any forward-looking information or statements. The effect of these factors is difficult to predict. Factors other than these also could adversely affect our results, and the reader should not consider these factors to be a complete set of all potential risks or uncertainties. New factors emerge from time to time, and management cannot assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements only speak as of the date of this document, and we undertake no obligation to update any forward-looking information or statements, whether written or oral, to reflect any change, except as required by law. All forward-looking statements attributable to us are expressly qualified by these cautionary statements.

33Q16 HIGHLIGHTS » Net income of $214 million, or $0.59 per diluted common share » One-time tax benefit of $0.03 per diluted common share » Net interest income of $1.2 billion » ROA of 2.2% and ROE of 17.1% » Total auto originations of $5.2 billion, down 31% vs. prior year third quarter » Underwriting standards remain disciplined in a competitive environment impacting short term market share » Lease originations of $1.3 billion, down 17% vs. prior year third quarter » QoQ nonprime originations up 13% » Expense ratio of 2.2%, as SC continues to leverage scale to manage expenses » Continued strength of ABS platforms evidenced by the upgrade of 90 ABS tranches by Moody’s, S&P and Fitch across multiple platforms during the quarter, positively impacting more than $7 billion in securities » Retail installment contract (RIC) net charge-off ratio of 8.7%; up 50 bps year-over-year driven by slower portfolio growth, fewer bankruptcy sales and lower recovery rates » CET1 ratio of 13.1%, demonstrating SC’s ability to generate earnings and capital » During 2Q16 SC executed a subservicing agreement with its Puerto Rico entity, Santander Consumer International (“SCI”), to service the performing portion of SC’s loan and lease portfolio » Call center operations to begin by the end of 2016, adding geographic and time-zone diversification as well as proximity to existing SC servicing vendors facilitating improved oversight SC continues to be a leader in the auto finance industry, and consistently demonstrates strength in its operational capabilities.

4ECONOMIC INDICATORS U.S. Auto Sales1 Units in Millions 1 St. Louis Fed Research 2 University of Michigan 3 Bloomberg 4 Bureau of Labor Statistics Consumer Confidence2 Index Q1 1966=100 U.S. GDP3 YOY% U.S. Unemployment Rate4 % OR IGIN A TI O N S CRE D IT 16.5 Max 18.1 Min 9.0 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 93.5 Max 98.1 Min 55.3 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-1 Sep-12 S - 3 Sep-14 Sep-15 Sep-16 2.9% Max 3.2% Min -4.1% Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 4.9% Max 10.0% Min 4.4% Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16

5 4.9% Max 5.4% Min 1.6% Aug-06 Aug-08 Aug-10 Aug-12 Aug-14 Aug-16 AUTO INDUSTRY ANALYSIS Used Vehicle Indices1 Manheim: Seasonally Adjusted NADA: Not Seasonally Adjusted 1 Manheim, Inc.; Indexed to a basis of 100 at 1995 levels; National Automotive Dealers Association 2 Auction Only - includes all auto-related recoveries including inorganic/purchased receivables from auction lanes only 2 Auction Plus - GAAP Recoveries which also includes insurance proceeds, bankruptcy/deficiency sales, and timing impacts 3 Standard & Poor’s Rating Services (ABS Auto Trust Data – two-month lag on data, as of August 31, 2016) SC Recovery Rates2 Industry Net Loss Rates3 Nonprime Industry 60+ Day Delinquency Rates3 Nonprime SE V ER IT Y CRE D IT 8.4% Max 13.3% Min 2.8% Aug-06 Aug-08 Aug-10 Aug-12 Aug-14 Aug-16 90 95 100 105 110 110 115 120 125 130 Sep-12 Mar-13 Sep-13 Mar-14 Sep-14 Mar-15 Sep-15 Mar-16 Sep-16 Manheim (Left Axis) NADA (Right Axis)

6 VEHICLE FINANCE LEVERAGING TECHNOLOGY IS INTEGRAL TO THE FOUR PILLARS OF OUR FOCUSED BUSINESS MODEL FOCUSED BUSINESS MODEL DISCIPLINED APPROACH TO MARKET SIMPLE, PERSONAL, FAIR APPROACH WITH CUSTOMERS, EMPLOYEES AND ALL CONSTITUENCIES SERVICED FOR OTHERS FUNDING AND LIQUIDITY CULTURE OF COMPLIANCE

7DISCIPLINED LOAN UNDERWRITING CONTINUES IN 3Q16 1 Approximate FICO score 2 Includes some capital lease originations. Average managed assets remain stable. Total auto origination decrease was driven by disciplined underwriting in a competitive market. Q3 2016 Q2 2016 Q3 2015 QoQ YoY Total Core Retail Auto 1,972 1,654 2,788 19% (29%) Chrysler Capital Loans (<640)1 855 857 1,374 0% (38%) Chrysler Capital Loans (≥640)1 1,034 1,212 1,732 (15%) (40%) Total Chrysler Capital Retail 1,889 2,069 3,106 (9%) (39%) Total Leases2 1,303 1,697 1,569 (23%) (17%) Total Auto Originations 5,164 5,420 7,463 (5%) (31%) Total Personal Lending - 9 158 N/A N/A Total Originations 5,164 5,429 7,621 (5%) (32%) Asset Sales 794 659 3,058 20% (74%) Serviced for Others Portfolio 12,157 13,034 14,788 (7%) (18%) Average Managed Assets 52,675 53,237 50,961 (1%) 3% Three Months Ended Originations % Variance

8 3% 4% 4% 3% 2% 15% 12% 14% 13% 12% 14% 12% 15% 12% 13% 22% 20% 22% 20% 23% 12% 12% 13% 13% 14% 33% 39% 32% 40% 35% 3Q15 4Q15 1Q16 2Q16 3Q16 Originations by Credit (RIC only) ($ in millions) >640 600-639 540-599 <540 No FICO Commercial $4,929 $5,162$5,894 $3,723 $3,861 RECENT ORIGINATIONS EXHIBIT HIGHER CREDIT QUALITY 1 Loans to commercial borrowers; no FICO score obtained 1  % of RIC originations <600 FICO have declined YoY  Consistent with disciplined pricing strategy and track record of leveraging performance and data into new originations  YoY increase in loans >600 FICO driven by Fiat Chrysler (“FCA”) relationship  Stable mix of new and used vehicle originations YoY  Average loan balances for new/used originations down YoY Average loan balance in dollars $22,165 $23,721 $21,745 $21,929 $21,482 55% 61% 51% 57% 56% 45% 39% 49% 43% 44% 3Q15 4Q15 1Q16 2Q16 3Q16 New/Used Originations ($ in millions) Used New $5,894 $3,861$5,162$4,929 $3,723 49%45%

9  Significant opportunity in prime originations  Finalizing a strategic agreement with Banco Santander  Beneficial to FCA relationship and Chrysler Capital volume  FCA had prior year sales of more than 2 million units  YTD 2016 sales of more than 1.7 million units  Consistent annual sales growth since 2011  September 2016 penetration rate of 19% Accomplishments and Improvements  SC remained the largest provider for FCA  FCA and SC’s relationship provides a unique offering for nonprime consumers in comparison to other original equipment manufacturers (“OEMs”)  Continued to refine dealer VIP program; increasing participating dealerships since Q1 2016  The VIP program is leading to an increase in application views without impacting underwriting standards  Continued to refine off-lease processes as SC anticipates incremental off-lease volume in upcoming quarters  Through Santander Bank N.A. (“SBNA”), SC has increased dealer receivable originations (“floorplan”) 50% compared to 2015 YTD CHRYSLER CAPITAL 1 FCA filings; sales as reported on 10/03/2016 SC continues to work strategically and collaboratively with FCA to continue to strengthen the relationship and create value within the Chrysler Capital program. 1.6 1.7 1.8 2.1 2.3 1.7 2011 2012 2013 2014 2015 YTD 2016 FCA Sales1 (units in millions)

10 $14,788 $15,047 $14,235 $13,034 $12,157 3Q15 4Q15 1Q16 2Q16 3Q16 $ in Millions Flow Programs 1,348 1,081 860 659 794 CCART 788 Residual Sales 1,710  Recent decrease in total balance related to lower prime originations  Growth in SFO remains dependent upon Chrysler Capital Penetration  Finalizing a strategic agreement with Banco Santander  Beneficial to SFO platform SERVICED FOR OTHERS PLATFORM Composition at 9/30/2016 RIC 75% Leases 19% RV/Marine 7% Total 100% Serviced for Others Balances  Flow programs continue to drive asset sales *Sales with retained servicing during period

11Q3 2016 FINANCIAL RESULTS September 30, 2016 June 30, 2016 September 30, 2015 QoQ YoY Interest on finance receivables and loans 1,246,386$ 1,271,741$ 1,285,085$ (2%) (3%) Net leased vehicle income 135,771 125,218 92,666 8% 47% Other finance and interest income 3,638 3,890 9,334 (6%) (61%) Interest expense 207,175 198,594 171,420 4% 21% Net finance and other interest income 1,178,620 1,202,255 1,215,665 (2%) (3%) Provision for credit losses 610,398 511,921 723,922 19% (16%) Profit sharing 6,400 17,846 11,818 (64%) (46%) Total other income 26,682 37,302 154,336 (28%) (83%) Total operating expenses 284,484 272,227 261,287 5% 9% Income before tax 304,020 437,563 372,974 (31%) (18%) Income tax expense 90,473 154,218 136,539 (41%) (34%) Net income 213,547 283,345 236,435 (25%) (10%) Diluted EPS ($) 0.59$ 0.79$ 0.66$ (25%) (11%) Total assets 38,771,636 38,490,611 36,035,625 1% 8% Average managed assets 52,675,379 53,237,279 50,961,182 (1%) 3% Three Months Ended (Unaudited, Dollars in Thousands, except per share) % Variance

12 September 30, 2016 June 30, 2016 September 30, 2015 QoQ YoY Interest on finance receivables and loans 1,167,675$ 1,190,500$ 1,170,824$ (2%) 0% Net leased vehicle income 135,771 125,218 92,666 8% 47% Other finance and interest income 3,638 3,890 9,334 (6%) (61%) Interest expense 196,984 188,546 156,062 4% 26% Net finance and other interest income 1,110,100 1,131,062 1,116,762 (2%) (1%) Provision for credit losses 610,398 511,921 618,109 19% (1%) Profit sharing 10,957 13,944 10,594 (21%) 3% Investment gains (losses), net (10,404) (6,543) 28,684 59% (136%) Servicing fee income 36,447 42,988 35,910 (15%) 1% Fees, commissions and other 46,426 45,347 48,975 2% (5%) Total other income 72,469$ 81,792$ 113,569$ (11%) (36%) Assets 37,839,733$ 37,518,961$ 34,140,016$ 1% 11% Retail installment contracts held for investment, net 23,578,757$ 23,377,022$ 23,303,693$ 1% 1% Leased vehicles 8,467,129$ 8,065,227$ 6,062,106$ 5% 40% Three Months Ended (Unaudited, Dollars in Thousands, except per share) % Variance Q3 2016 EXCLUDING PERSONAL LENDING 1 Additional details can be found in Appendix

13 30-Sep-15 31-Dec-15 31-Mar-16 30-Jun-16 30-Sep-16 Reported Total Other Income (Loss) 154,336 (97,587) 77,558 37,302 26,682 Reported Investment Gains (Losses), Net 22,684 (229,212) (69,056) (101,309) (106,050) Add back: Personal Lending LOCM Adjustments - 236,396 64,213 94,767 95,646 Other 6,000 14,226 6,451 7,330 6,639 Normalized Investment Gains (Losses), Net 28,684 21,410 1,608 788 (3,765) Servicing Fee Income 35,910 42,357 44,494 42,988 36,447 Fees, Commissions, and Other1 95,742 89,268 102,120 95,623 96,285 Normalized Total Other Income 160,336 153,035 148,222 139,399 128,967 Customer Default Activity 123,254 101,347 97,169 114,477 Fair Value Discount 113,142 (37,134) (2,402) (18,831) Denotes quarters with CCART sales Three Months Ended (Unaudited, Dollars in Thousands) TOTAL OTHER INCOME  SC’s strategy is to price loans sold under flow agreements close to par, with minimal investment gains (losses), to generate further growth in the serviced for others platform and drive increased fee income  In Q3 2015, SC designated the personal lending portfolio as held for sale and released any allowance associated with the portfolio; any lower of cost or market (“LOCM”) impact related to personal lending in Q3 2015 was recognized through provision for credit losses  Beginning in Q4 2015, net investment gains (losses) include the impact of personal lending assets  Customer defaults, as part of LOCM adjustments on the personal lending portfolio designated as held for sale, are recognized through net investment gains (losses)  Seasonal balances will impact magnitude of LOCM adjustments; this quarter included lower LOCM adjustments driven by seasonal declines in the personal lending portfolio 1 Fees, commissions and other includes fee income from the personal lending and auto portfolios

14 3,436 177 144 34 (125) (253) 3,413 3000 3100 3200 3300 3400 3500 3600 3700 3800 3900 Q2 2016 New Volume TDR Migration Performance Adjustment Qualitative Reserve Liquidations & Other Q3 2016 Q2 2016 to Q3 2016 ALLL Reserve Walk ($ in millions) 724 851 660 512 610 11.1% 11.9% 12.0% 12.6% 12.4% 10.0% 10.5% 11.0% 11.5% 12.0% 12.5% 13.0% 0 100 200 300 400 500 600 700 800 900 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Provision Expense and Allowance Ratio ($ in mill ions) Provision for credit losses Allowance Ratio PROVISION AND RESERVES  Allowance to loans ratio decreased to 12.4% QoQ  Provision for credit losses decreased YoY primarily driven by the recording of provision for credit losses on the personal loan portfolio in prior year  Excluding the impact of personal loans, provision for credit losses decreased $8 million YoY  QoQ allowance decreased $23 million  Liquidations and removal of qualitative adjustment partly offset by new volume and TDR migration 1 TDR Migration – additional allowance coverage required for loans now classified as a TDR or “troubled debt restructuring”

15 15.4% 16.6% 16.3% 14.2% 17.2% 8.2% 8.9% 7.6% 5.7% 8.7% 47% 47% 53% 60% 49% 0% 10% 20% 30% 40% 50% 60% 70% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Credit: Individually Acquired Retail Installment Contracts, Held for Investment Gross Charge- off Ratio Net Charge-off Ratio Recovery Rate (as % of recorded investment) LOSS AND DELINQUENCY  YoY delinquency increased for each delinquency bucket  Primary drivers:  2015 originations more nonprime in nature  Slower portfolio growth  YoY gross loss increased 180 basis points  Primary drivers:  2015 originations more nonprime in nature  Slower portfolio growth  Recovery rates and net losses in Q2 2016 benefited by proceeds from bankruptcy sales1 1 Excluding bankruptcy sales, recovery rates would have been 59% 8.1% 9.1% 6.9% 9.0% 9.2% 3.8% 4.4% 3.1% 4.2% 4.6% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Delinquency: Individually Acquired Retail Installment Contracts, Held for Investment 31-60 61+

16CREDIT QUALITY: LOSS DETAIL  Overall increase is primarily due to a combination of portfolio growth, portfolio aging and mix shift  2015 vintage represents largest portion of losses * Individually acquired retail installment contracts 565 631 99 2 (34) Q3 2015 Portfolio Growth, Aging and Mix Shift Bankruptcy Sales Recoveries Q3 2016 Q3 2015 to Q3 2016 Net Charge-Off Walk ($ in millions)

17 $50,961 $52,239 $52,962 $53,237 $52,675 $261 $257 $291 $272 $284 2.1% 2.0% 2.2% 2.0% 2.2% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% $2 $10,002 $20,002 $30,002 $40,002 $50,002 $60,002 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Average Managed Assets ($ millions) Total Expenses ($ millions) Expense Ratio EXPENSE MANAGEMENT  Operating expenses totaled $284 million, an increase of 9% versus the same quarter last year, driven by higher repossession and compensation expenses

18 7.0 8.3 3.8 2.5 Q2 2016 Q3 2016 Unused Used FUNDING AND LIQUIDITY Total committed liquidity of $36.8 billion at end of Q3 2016, down 4% from $38.1 billion at the end of Q2 2016 Asset-Backed Securities ($ Billions) Private Financings ($ Billions) Banco Santander & Subsidiaries ($ Billions) Asset Sales ($ Billions)  Leveraged alternative liquidity sources during Q3  $4.8 billion in total commitment  51% unused capacity at Q3 2016  Flow program sales continued to drive total asset sales Amortizing Revolving 10.8  $19.6 billion in commitments from 13 lenders  23% unused capacity on revolving lines at Q3 2016 10.8 14.2 12.4 Q2 2016 Q3 2016 8.3 8.8 Q2 2016 Q3 2016 0.7 0.8 Q2 2016 Q3 2016 2.35 2.35 2.45 2.45 Q2 2016 Q3 2016 Unused Used 4.8 4.8

19CONSISTENT CAPITAL GENERATION 1 Common Equity Tier 1 (CET1) Capital Ratio begins with stockholders’ equity and then adjusts for AOCI, goodwill/intangibles, DTAs, cash flow hedges and other regulatory exclusions over risk- weighted assets; Non-GAAP measure 2Tangible common equity to tangible assets is defined “as the ratio of Total equity, excluding Goodwill and intangible assets, to Total assets, excluding Goodwill and intangible assets; Non-GAAP measure, reconciliation in Appendix 1 2 SC has exhibited a strong ability to generate earnings and capital, while growing assets. Tangible Assets ($ millions) 35,925 36,342 37,661 38,383 38,665 11.5% 11.2% 12.1% 12.6% 13.1% 12.1% 11.9% 11.9% 12.4% 13.0% Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 CET1 TCE/TA

APPENDIX

21SANTANDER CONSUMER USA HOLDINGS INC. 1 As of September 30, 2016 2 DDFS LLC is an entity owned by former Chairman and Chief Executive Officer, Tom Dundon. This purchase would result in SHUSA owning approximately 68.8% of SC. 3 Chrysler Capital is a dba of Santander Consumer USA • Santander Consumer USA Holdings Inc. (NYSE:SC) (“SC”) is approximately 58.9%1 owned by Santander Holdings USA, Inc. (“SHUSA”), a wholly-owned subsidiary of Banco Santander, S.A. (NYSE:SAN) • On July 3, 2015, SHUSA elected to exercise its right to purchase all of the shares of SC common stock owned by DDFS LLC, subject to regulatory approval and applicable law2 ▪ SC is a full-service, technology-driven consumer finance company focused on vehicle finance, third-party servicing and providing superior customer service • Historically focused on nonprime markets; established presence in prime and lease ▪ Approximately 5,100 full-time, 90 part-time and 1,500 vendor-based employees across multiple locations in the U.S. and the Caribbean ▪ Our strategy is to leverage our efficient, scalable technology and risk infrastructure and data to underwrite, originate and service profitable assets while treating employees, customers and all stakeholders in a simple, personal and fair manner ▪ Unparalleled compliance and responsible practices focus ▪ Continuously optimizing the mix of assets retained vs. assets sold and serviced for others ▪ Presence in prime markets through Chrysler Capital3 ▪ Efficient funding through key third-party relationships, secondary markets and Santander Overview Strategy

22COMPANY ORGANIZATION Other Subsidiaries 100% Ownership Santander Holdings USA, Inc. (“SHUSA’) 58.9% Ownership Santander Consumer USA Holdings Inc. (“SC”) Santander Bank, N.A. Other Subsidiaries 9.8% Ownership (11.5% Beneficial Ownership)1 DDFS LLC2 and Tom Dundon 0.1% Ownership (0.4% Beneficial Ownership)1 31.3% Ownership Other Management Public Shareholders Banco Santander, S.A. Spain **Ownership percentages are approximates as of September 30, 2016 1 Beneficial ownership includes options currently exercisable or exercisable within 60 days of September 30, 2016 2 On July 3, 2015, SHUSA elected to exercise the right to purchase shares of SC common stock owned by DDFS LLC, an entity owned by former Chairman and Chief Executive Officer, Thomas Dundon, subject to regulatory approval and applicable law. This purchase would result in SHUSA owning approximately 68.8% of SC.

23HELD FOR INVESTMENT CREDIT TRENDS Retail Installment Contracts1 1Held for investment; excludes assets held for sale 3.9 % 12. 2% 23. 8% 30. 4% 17. 1% 12. 6% 4.0 % 12. 2% 23. 4% 30. 9% 17. 3% 12. 2% 4.2 % 12 .6% 23. 2% 31. 0% 17. 1% 11. 9% 2.6 % 1 2.6 % 22. 9% 31. 2% 17. 4% 13. 3% 3.3 % 12 .4% 22. 2% 31. 1% 17. 2% 13. 8% Commercial Unknown <540 540-599 600-639 >=640 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016

24Q3 2016 EXCLUDING PERSONAL LENDING DETAIL As Reported Personal Lending Excluding Personal Lending As Reported Personal Lending Excluding Personal Lending As Reported Personal Lending Excluding Personal Lending Interest on finance receivables and loans $ 1,246,386 $ 78,711 $ 1,167,675 $ 1,271,741 $ 81,241 $ 1,190,500 $ 1,285,085 $ 114,261 $ 1,170,824 Net leased vehicle income 135,771 135,771 125,218 125,218 92,666 92,666 Other finance and interest income 3,638 3,638 3,890 3,890 9,334 9,334 Interest expense 207,175 10,191 196,984 198,594 10,048 188,546 171,420 15,358 156,062 Net finance and other interest income 1,178,620 68,520 1,110,100 1,202,255 71,193 1,131,062 1,215,665 98,903 1,116,762 Provision for credit losses 610,398 610,398 511,921 511,921 723,922 105,813 618,109 Profit sharing 6,400 (4,557) 10,957 17,846 3,902 13,944 11,818 1,224 10,594 Investment gains (losses), net (106,050) (95,646) (10,404) (101,309) (94,766) (6,543) 22,684 (6,000) 28,684 Servicing fee income 36,447 36,447 42,988 42,988 35,910 35,910 Fees, commissions and other 96,285 49,859 46,426 95,623 50,276 45,347 95,742 46,767 48,975 Total other income $ 26,682 $ (45,787) $ 72,469 $ 37,302 $ (44,490) $ 81,792 $ 154,336 $ 40,767 $ 113,569 Assets $ 38,771,636 $ 931,903 $ 37,839,733 $ 38,490,611 $ 971,650 $ 37,518,961 $ 36,035,625 $ 1,895,609 $ 34,140,016 Retail installment contracts held for investment, net $ 23,578,757 $ 23,578,757 $ 23,377,022 $ 23,377,022 $ 23,303,693 $ 23,303,693 Leased vehicles $ 8,467,129 $ 8,467,129 $ 8,065,227 $ 8,065,227 $ 6,062,106 $ 6,062,106 As of and for the Three Months Ended ($ in Thousands) September 30, 2016 June 30, 2016 September 30, 2015

25CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share amounts) September 30, 2016 December 31, 2015 (Unaudited) Assets Cash and cash equivalents $ 75,873 $ 18,893 Finance receivables held for sale, net 2,572,429 2,859,575 Finance receivables held for investment, net 23,686,391 23,367,788 Restricted cash 2,696,500 2,236,329 Accrued interest receivable 369,543 395,387 Leased vehicles, net 8,467,129 6,497,310 Furniture and equipment, net 62,378 58,007 Federal, state and other income taxes receivable 101,284 267,636 Related party taxes receivable 85 71 Goodwill 74,056 74,056 Intangible assets, net 33,028 33,016 Due from affil iates 46,333 58,599 Other assets 586,607 582,291 Total assets $ 38,771,636 $ 36,448,958 Liabilities and Equity Liabilities: Notes payable — credit facil ities $ 8,299,229 $ 6,902,779 Notes payable — secured structured financings 21,150,666 20,872,900 Notes payable — related party 2,350,000 2,600,000 Accrued interest payable 28,796 22,544 Accounts payable and accrued expenses 354,864 413,269 Federal, state and other income taxes payable 14,038 2,462 Deferred tax liabilities, net 1,227,179 881,225 Due to affil iates 54,848 58,148 Other l iabilities 174,359 263,082 Total l iabilities $ 33,653,979 $ 32,016,409 Equity: Common stock, $0.01 par value 3,584 3,579 Additional paid-in capital 1,652,786 1,644,151 Accumulated other comprehensive income (loss), net (26,598) 2,125 Retained earnings 3,487,885 2,782,694 Total stockholders’ equity 5,117,657 4,432,549 Total l iabilities and equity $ 38,771,636 $ 36,448,958

26CONSOLIDATED INCOME STATEMENTS September 30, September 30, 2016 2015 Interest on finance receivables and loans $ 1,246,386 $ 1,285,085 Leased vehicle income 388,501 267,211 Other finance and interest income 3,638 9,334 Total finance and other interest income 1,638,525 1,561,630 Interest expense 207,175 171,420 Leased vehicle expense 252,730 174,545 Net finance and other interest income 1,178,620 1,215,665 Provision for credit losses 610,398 723,922 Net finance and other interest income after provision for credit losses 568,222 491,743 Profit sharing 6,400 11,818 Net finance and other interest income after provision for credit losses and profit sharing 561,822 479,925 Investment gains (losses), net (106,050) 22,684 Servicing fee income 36,447 35,910 Fees, commissions, and other 96,285 95,742 Total other income 26,682 154,336 Compensation expense 128,056 114,070 Repossession expense 75,920 60,770 Other operating costs 80,508 86,447 Total operating expenses 284,484 261,287 Income before income taxes 304,020 372,974 Income tax expense 90,473 136,539 Net income $ 213,547 $ 236,435 Net income per common share (basic) $ 0.60 $0.66 Net income per common share (diluted) $ 0.59 $0.66 Weighted average common shares (basic) 358,343,781 357,846,564 Weighted average common shares (diluted) 360,087,749 359,108,197 For the Three Months Ended (Unaudited, dollars in thousands, except per share amounts)

27RECONCILIATION OF NON-GAAP MEASURES September 30, June 30, March 31, December 31, September 30, 2016 2016 2016 2015 2015 Total equity $ 5,117,657 $ 4,876,712 $ 4,604,739 $ 4,432,549 $ 4,451,984 Deduct: Goodwill and intangibles 107,084 107,737 107,971 107,072 110,966 Tangible common equity $ 5,010,573 $ 4,768,975 $ 4,496,768 $ 4,325,477 $ 4,341,018 Total assets $ 38,771,636 $ 38,490,611 $ 37,768,959 $ 36,448,958 $ 36,035,625 Deduct: Goodwill and intangibles 107,084 107,737 107,971 107,072 110,966 Tangible assets $ 38,664,552 $ 38,382,874 $ 37,660,988 $ 36,341,886 $ 35,924,659 Equity to assets ratio 13.2% 12.7% 12.2% 12.2% 12.4% Tangible common equity to tangible assets 13.0% 12.4% 11.9% 11.9% 12.1% (Unaudited, dollars in thousands)