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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-K
  þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934.
 For the fiscal year ended December 31, 2010.
 or
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934.
 For the transition period from  to .
 Commission file number of the issuing entity: 333-139609-06
 SANTANDER DRIVE AUTO RECEIVABLES TRUST 2010-2
  Commission file number of depositor: 333-139609
 SANTANDER DRIVE AUTO RECEIVABLES LLC
  SANTANDER CONSUMER USA INC.
  Delaware
 27-6705244
 c/o Santander Drive Auto Receivables LLC
8585 North Stemmons Freeway, Suite 1100-N
Dallas, Texas 75247
 (214) 292-1930
 None
 None
 o þ
 o þ
 þ o
 þ o
 þ
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer þ
    
    Smaller reporting company o(Do not check if a smaller reporting company)
 o þ
 Not applicable
 None




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TABLE OF CONTENTS  PART IItem 1B. Unresolved Staff CommentsItem 1112(b) of Regulation AB. Significant Obligors of Pool Assets (Financial Information)Item 1114(b)(2) of Regulation AB. Credit Enhancement and Other Support, Except for Certain Derivatives Instruments (Information Regarding Significant Enhancement Providers)Item 1115(b) of Regulation AB. Certain Derivatives Instruments (Financial Information)Item 1117 of Regulation AB. Legal ProceedingsPART IIItem 9B. Other InformationPART IIIItem 1119 of Regulation AB. Affiliations and Certain Relationships and Related TransactionsItem 1122 of Regulation AB. Compliance with Applicable Servicing CriteriaItem 1123 of Regulation AB. Servicer Compliance StatementsPART IVItem 15. Exhibits and Financial Statement SchedulesSIGNATURESEXHIBIT INDEXEX-31.1EX-33.1EX-33.2EX-34.1EX-34.2EX-35.1    Table of Contents  
 PART I
 The following items have been omitted in accordance with General Instruction J to Form 10-K:
 Item 1:
    
    BusinessItem 1A:
    
    Risk FactorsItem 2:
    
    PropertiesItem 3:
    
    Legal ProceedingsItem 4:
    
    Reserved
 
 Item 1B.
    
    Unresolved Staff Comments.
  Substitute information provided in accordance with General Instruction J to Form 10-K:
 
 Item 1112(b) of Regulation AB. Significant Obligors of Pool Assets (Financial Information).
  
 Item 1114(b)(2) of Regulation AB. Credit Enhancement and Other Support, Except for Certain
Derivatives Instruments (Information Regarding Significant Enhancement Providers).
  
 Item 1115(b) of Regulation AB. Certain Derivatives Instruments (Financial Information).
  
 Item 1117 of Regulation AB. Legal Proceedings.
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PART II
 The following items have been omitted in accordance with General Instruction J to Form 10-K:
 Item 5:
    
    Market for Registrants Common Equity, Related Stockholder Matters and
Issuer Purchases of Equity SecuritiesItem 6:
    
    Selected Financial DataItem 7:
    
    Managements Discussion and Analysis of Financial Condition and Results of
OperationsItem 7A:
    
    Quantitative and Qualitative Disclosures about Market RiskItem 8:
    
    Financial Statements and Supplementary DataItem 9:
    
    Changes in and Disagreements with Accountants on Accounting and Financial
DisclosureItem 9A:
    
    Controls and Procedures
 
 Item 9B.
    
    Other Information.
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PART III
 The following items have been omitted in accordance with General Instruction J to Form 10-K:
 Item 10:
    
    Directors, Executive Officers, and Corporate GovernanceItem 11:
    
    Executive CompensationItem 12:
    
    Security Ownership of Certain Beneficial Owners and Management and Related
Stockholder MattersItem 13:
    
    Certain Relationships and Related Transactions, and Director IndependenceItem 14:
    
    Principal Accounting Fees and Services
 Substitute information provided in accordance with General Instruction J to Form 10-K:
 
 Item 1119 of Regulation AB. Affiliations and Certain Relationships and Related
Transactions.
  
 Item 1122 of Regulation AB. Compliance with Applicable Servicing Criteria.
  
 Item 1123 of Regulation AB. Servicer Compliance Statements.
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PART IV
 
 Item 15.
    
    Exhibits and Financial Statement Schedules.
 (a)(1)
    
    Not Applicable.(a)(2)
    
    Not Applicable.(a)(3)
    
    Not Applicable.(b)
    
    Exhibits.
  Exhibit No.
   
    Description1.1
    *
    
    Underwriting Agreement, dated as of August 19, 2010, among Santander Drive Auto Receivables
LLC (Santander Drive), Santander Consumer USA Inc. (SC USA), Credit Suisse Securities
(USA) LLC, as an underwriter and as representative of Citigroup Global Markets Inc. and
Santander Investment Securities Inc., as underwriters, and J.P. Morgan Securities Inc. and
Wells Fargo Securities, LLC, as underwriters3.1
    **
    
    Amended and Restated Limited Liability Company Agreement of Santander Drive dated as of
March 7, 20074.1
    ***
    
    Indenture, dated as of August 25, 2010, between the Santander Drive Auto Receivables Trust
2010-2, as issuer (the Issuer), and Wells Fargo Bank, National Association, as indenture
trustee (the Indenture Trustee)10.1
    ***
    
    Purchase Agreement, dated as of August 25, 2010, between SC USA and Santander Drive10.2
    ***
    
    Sale and Servicing Agreement, dated as of August 25, 2010, among the Issuer, Santander
Drive, SC USA and the Indenture Trustee10.3
    ***
    
    Administration Agreement, dated as of August 25, 2010, among the Issuer, SC USA, as
administrator, and the Indenture Trustee10.4
    ***
    
    Amended and Restated Trust Agreement, dated as of August 25, 2010, between Santander Drive
and Deutsche Bank Trust Company Delaware, not in its individual capacity but solely as owner
trustee for the Issuer31.1
    
    
    Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Santander Drive)33.1
    
    
    Report on Assessment of Compliance with Applicable Servicing Criteria (SC USA)33.2
    
    
    Report on Assessment of Compliance with Applicable Servicing Criteria (Indenture Trustee)34.1
    
    
    Attestation Report of Independent Registered Public Accounting Firm on Assessment of
Compliance with Applicable Servicing Criteria for Asset Backed Securities (Deloitte & Touche
LLP)
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Exhibit No.
    
    Description34.2
    
    
    Attestation Report of Independent Registered Public Accounting Firm on Assessment of
Compliance with Applicable Servicing Criteria for Asset Backed Securities (KPMG LLP)35.1
    
    
    Servicing Compliance Statement (SC USA)
 *
    
    Incorporated by reference from Form 8-K filed by Santander Drive Auto Receivables LLC
(Commission File No. 333-139609) and Santander Drive Auto Receivables Trust 2010-2 (Commission
File No. 333-139609-06) with the Securities and Exchange Commission on August 23, 2010.**
    
    Incorporated by reference from Form S-3/A filed by Santander Drive Auto Receivables LLC
(Commission File No. 333-139609) with the Securities and Exchange Commission on March 7, 2007.***
    
    Incorporated by reference from Form 8-K filed by Santander Drive Auto Receivables LLC
(Commission File No. 333-139609) and Santander Drive Auto Receivables Trust 2010-2 (Commission
File No. 333-139609-06) with the Securities and Exchange Commission on August 26, 2010.  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.
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SIGNATURES
   SANTANDER DRIVE AUTO RECEIVABLES LLC,as depositorBy:
    
    /s/ Jason KulasName:
    
    Jason KulasTitle:
    
    Chief Financial Officer
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EXHIBIT INDEX
 Exhibit No.
    
    Description1.1
    *
    
    Underwriting Agreement, dated as of August 19, 2010, among Santander Drive Auto Receivables
LLC (Santander Drive), Santander Consumer USA Inc. (SC USA), Credit Suisse Securities
(USA) LLC, as an underwriter and as representative of Citigroup Global Markets Inc. and
Santander Investment Securities Inc., as underwriters, and J.P. Morgan Securities Inc. and
Wells Fargo Securities, LLC, as underwriters3.1
    **
    
    Amended and Restated Limited Liability Company Agreement of Santander Drive dated as of
March 7, 20074.1
    ***
    
    Indenture, dated as of August 25, 2010, between the Santander Drive Auto Receivables Trust
2010-2, as issuer (the Issuer), and Wells Fargo Bank, National Association, as indenture
trustee (the Indenture Trustee)10.1
    ***
    
    Purchase Agreement, dated as of August 25, 2010, between SC USA and Santander Drive10.2
    ***
    
    Sale and Servicing Agreement, dated as of August 25, 2010, among the Issuer, Santander
Drive, SC USA and the Indenture Trustee10.3
    ***
    
    Administration Agreement, dated as of August 25, 2010, among the Issuer, SC USA, as
administrator, and the Indenture Trustee10.4
    ***
    
    Amended and Restated Trust Agreement, dated as of August 25, 2010, between Santander Drive
and Deutsche Bank Trust Company Delaware, not in its individual capacity but solely as owner
trustee for the Issuer31.1
    
    
    Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Santander Drive)33.1
    
    
    Report on Assessment of Compliance with Applicable Servicing Criteria (SC USA)33.2
    
    
    Report on Assessment of Compliance with Applicable Servicing Criteria (Indenture Trustee)34.1
    
    
    Attestation Report of Independent Registered Public Accounting Firm on Assessment of
Compliance with Applicable Servicing Criteria for Asset Backed Securities (Deloitte & Touche
LLP)34.2
    
    
    Attestation Report of Independent Registered Public Accounting Firm on Assessment of
Compliance with Applicable Servicing Criteria for Asset Backed Securities (KPMG LLP)35.1
    
    
    Servicing Compliance Statement (SC USA)
 *
    
    Incorporated by reference from Form 8-K filed by Santander Drive Auto Receivables LLC
(Commission File No. 333-139609) and Santander Drive Auto Receivables Trust 2010-2 (Commission
File No. 333-139609-06) with the Securities and Exchange Commission on August 23, 2010.**
    
    Incorporated by reference from Form S-3/A filed by Santander Drive Auto Receivables LLC
(Commission File No. 333-139609) with the Securities and Exchange Commission on March 7, 2007.***
    
    Incorporated by reference from Form 8-K filed by Santander Drive Auto Receivables LLC
(Commission File No. 333-139609) and Santander Drive Auto Receivables Trust 2010-2 (Commission
File No. 333-139609-06) with the Securities and Exchange Commission on August 26, 2010.  8