SANTANDER CONSUMER USA HOLDINGS INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, 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): January 31, 2018

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)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02. Results of Operations and Financial Condition. On January 31, 2018, Santander Consumer USA Holdings Inc. (the "Company") issued a press release announcing its financial results for the quarter ended December 31,

2017. Copies of the Company's press release and an investor presentation for the quarter ended December 31, 2017 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 January 31, 2018. Exhibit 99.2 Presentation Materials of Santander Consumer USA Holdings Inc., dated January 31, 2018 .

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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.

SANTANDER CONSUMER USA HOLDINGS INC.

Dated: January 31, 2018

By: /s/ Christopher Pfirrman Name: Christopher Pfirrman Title: Chief Legal Officer

Exhibit 99.1

Contacts: Investor Relations Evan Black 800.493.8219 InvestorRelations@

Media Relations Laurie Kight 214.801.6455

Media@

Santander Consumer USA Holdings Inc. Reports Fourth Quarter and Full Year 2017 Results 2017 Milestones Pave the Way for 2018 with Continued Focus On Financial and Operational Performance, Fiat Chrysler and Other Key Origination Channels

Dallas, TX (January 31, 2018) ? Santander Consumer USA Holdings Inc. (NYSE: SC) ("SC" or the "Company") today announced net income for the fourth quarter of 2017 ("Q4 2017") of $580 million , or $1.61 per diluted common share. Net income for Q4 2017, excluding the impact of significant items including tax reform and other tax related items, legal reserves, and a settlement with the former CEO ("Adjusted 1 "), totaled $98 million , or $0.27 per diluted common share. Net income for the full year 2017 ("2017") was $1.2 billion , or $3.30 per diluted common share. Adjusted net income for 2017 was $627 million , or $1.74 per diluted common share. Please refer to Table 9 for a reconciliation of these significant items to GAAP.

The Company has declared a cash dividend of $0.05 per share, to be paid on February 22, 2018, to shareholders of record as of the close of business on February 12, 2018.

"2017 was a pivotal year for SC, and our full year results reflect that, " said Scott Powell, SC President and CEO, and Santander US CEO. " We strengthened our management team, stabilized credit performance, and launched new efforts focusing on Fiat Chrysler and the rest of our dealers. Passing the Federal Reserve's capital stress test and our relationship with Santander Group provide us with the balance sheet flexibility to support our business objectives in 2018. "

2017 Regulatory and Business Milestones: ? The Federal Reserve Bank of Boston ("Federal Reserve") terminated the 2014 Written Agreement with SC's majority owner, Santander Holdings USA, Inc. ("SHUSA"),

following its non-objection to SHUSA's Comprehensive Capital Analysis and Review submission. SHUSA and SC now operate within a normal capital cycle, and SC completed its first cash dividend payment to shareholders since 2014. ? SHUSA and Banco Santander ("Santander") increased their total ownership in SC to approximately 68.1%, following Santander's acquisition from SC's former CEO of 9.6% of SC's outstanding shares, which it transferred to SHUSA. ? Launched flow program with Santander allowing SC to execute prime auto loan sales of $2.6 billion, and through Santander Bank N.A., increased FCA dealer receivables ("floorplan") 14% year-over-year, to $2.0 billion. ? Leading auto loan asset-backed securities ("ABS") issuer with $7.9 billion in ABS offered and sold, including SC's inaugural lease securitization, Santander Retail Auto Lease Trust ("SRT") and SC's first public DRIVE securitization. ? Announced key appointments and changes to its management team, including Scott Powell as CEO, Juan Carlos Alvarez as CFO, Sandra Broderick as EVP, Head of Operations, and Rich Morrin, as President of Chrysler Capital and Auto Relationships.

Full Year 2017 Key Financial Highlights (variances

compared

to

full

year

2016

("2016

" ))

: ? Total auto originations of $20.1 billion, down 8% ? Finance receivables, loans and leases, net 2 , increased 2%, to $34.8 billion at December 31, 2017 , from $34.2 billion at December 31, 2016 ? Net finance and other interest income of $4.3 billion , down 9% ? RIC gross charge-off ratio of 17.9%, up 60 basis points, stabilizing compared to a 230 basis point increase from 2015 to 2016 ? RIC net charge-off ratio of 8.9% , up 60 basis points, compared to a 140 basis point increase from 2015 to 2016 ? Return on average assets ("ROA") of 3.0% and Adjusted ROA of 1.6% , down from 2.0%

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? Expense ratio of 2.6% and Adjusted expense ratio of 2.3% , up from 2.2%

Fourth Quarter of 2017 Key Financial Highlights (variances

compared

to

fourth

quarter

of

2016

("Q4

2016

" ))

: ? Total auto originations of $4.3 billion, down 5%

Core retail auto originations of $1.5 billion, down 27% Chrysler Capital loan originations of $1.5 billion, flat Chrysler Capital lease originations of $1.3 billion, up 31% ? Net finance and other interest income of $1.0 billion , down 11% ? ROA of 6.0% and Adjusted ROA of 1.0% , up from 0.6% ? CET1 ratio of 16.3% ? $2.2 billion in ABS offered and sold

Subsequent Events: ? Partnered with Santander InnoVentures, a Santander corporate venture fund, during the first quarter of 2018, to become a lending choice on AutoFi's online finance platform to

streamline and simplify the car buying process for consumers, while providing dealers a robust digital sales channel.

"Fourth quarter results demonstrate continued stabilization in credit performance following Hurricanes Harvey and Irma, " said Juan Carlos Alvarez, SC CFO. " As we head into 2018 our goal is to leverage our network and improve our dealer experience, including with Fiat Chrysler, while remaining focused on risk-adjusted returns and disciplined expense management. "

Net finance and other interest income decreased 11 percent, to $1.0 billion in Q4 2017 from $1.1 billion in Q4 2016, primarily driven by lower average RIC balances and an increase in benchmark rates.

Servicing fee income decreased 19 percent to $26 million in Q4 2017, from $32 million in Q4 2016, driven by lower prime originations and lower prime asset sales. SC's serviced for others portfolio of $8.6 billion as of Q4 2017, is down 28 percent from $11.9 billion in Q4 2016.

RIC delinquency ratio 3 increased to 5.4 percent in Q4 2017, from 5.1 percent in Q4 2016, primarily due to a lower portfolio balance.

RIC net charge-off ratio 4 increased to 10.3 percent in Q4 2017, from 9.9 percent in Q4 2016. Provision for credit loss decreased to $562 million in Q4 2017, from $686 million in Q4 2016.

Allowance ratio 5 decreased 20 basis points, to 12.6 percent at the end of Q4 2017, from 12.8 percent at the end of Q3 2017.

Recorded net investment losses were $138 million in Q4 2017, compared to net investment losses of $168 million in Q4 2016. The current period losses were primarily driven by held for sale accounting for SC's personal lending portfolio 6 .

During the quarter, SC incurred $426 million of operating expenses, up 44 percent from $296 million in Q4 2016. Adjusted operating expenses were $269 million , down 9 percent from $296 million in Q4 2016.

1 Please refer to Table 9 for a reconciliation of these significant items to GAAP. Amounts excluding significant items are non-GAAP financial measures that management believes will assist users of SC's financial information by excluding items that management does not believe reflect SC's fundamental business performance or results of operations. 2 Includes Finance receivables held for investment, Finance receivables held for sale and Leased vehicles. 3 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, excluding capital leases. 4 Net charge-off ratio stated on a recorded investment basis, which is the unpaid principal balance adjusted for unaccreted net discounts, subvention and origination costs. 5 Ratio for allowance for credit losses excludes end of period balances on purchased receivables portfolio of $28 million and finance receivables held for sale of $2.2 billion . 6 The current period losses were primarily driven by $136 million of lower of cost or market adjustments related to the held for sale personal lending portfolio, comprised of $114 million in customer default activity and $23 million increase in market discount, consistent with typical seasonal patterns.

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