UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549




FORM 10-K



ANNUAL REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934



|þ | ANNUAL REPORT
    PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934    
|- | --------------------------------------------------------------------------------------------
|  | For the fiscal year ended
    December 31, 2016                                             
|  |                                                                                             
|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 Issuing
Entity: 333-184646-02
Central Index Key Number of Issuing Entity: 0001646829

USAA Auto Owner Trust 2015-1

(Exact name of Issuing Entity as specified
in its charter)



Commission File Number of Depositor:
333-184646Central Index Key Number of Depositor: 0001178049USAA Acceptance, LLC
(Exact name of Depositor as specified in its charter)



Central Index Key
Number of Sponsor: 0000908392

USAA Federal Savings
Bank

(Exact name of Sponsor as specified in
its charter)



| | Delaware                                                                                                                                                                       |  | 47-7105991                                               | 
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |  | -------------------------------------------------------- | 
| | (State or other jurisdiction of
 incorporation or organization of
 Issuing
    Entity)                                                                                         |  | (I.R.S. Employer
 Identification No. of
 Issuing Entity) | 
| |                                                                                                                                                                                |  |                                                          | 
| | c/o Wells Fargo DelawareTrust Company, National Association919 Market StreetSuite 1600Wilmington, Delaware
    (Address of principal executive offices)
    of Issuing Entity) |  | 19801
    (Zip Code)                                     | 



(302) 575-2004

(Issuing Entity’s telephone number,
including area code)




Securities registered pursuant to Section 12(b) of the Act:



|Title
    of each class |  | Name
    of each exchange on which registered
|----------------------- |  | ---------------------------------------------
|None                    |  | None                                         



Securities registered pursuant to Section 12(g) of the Act:	None



Indicate by check mark if the registrant is a well-known seasoned
issuer (as defined in Rule 405 of the Act).    o  Yes    þ  No







Indicate by check mark if the registrant is not required to
file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act.    o  Yes    þ  No



Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days. þ Yes o No



Indicate by check mark whether the registrant has
submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T (§232.405of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such files). Yes þ   No o



Indicate by check mark if disclosure of delinquent filers pursuant
to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated
by reference in Part III of this Form 10-K or any amendment to this Form 10-K. þ



Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated
filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check
one):



|Large Accelerated Filer:  o                   |  | Accelerated Filer:  o        
|--------------------------------------------- |  | -----------------------------
|                                              |  |                              
|Non-accelerated filer: þ                      |  | Smaller reporting company:  o
|(Do not check if a smaller reporting company) |  |                              



Indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Act). Yes  o
 No  þ



State the aggregate market value of the voting and non-voting
common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average
bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal
quarter. None



Documents incorporated by reference: See Exhibit Index.







FORM 10-K



PART I



THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH
GENERAL INSTRUCTION J(1) TO FORM 10-K:



| | (A) | Item 1  | Business.         
| | --- | ------- | ------------------
| | (B) | Item 1A | Risk Factors.     
| | (C) | Item 2  | Properties.       
| | (D) | Item 3  | Legal Proceedings.
| |     |         |                   

|Item 1B. | Unresolved Staff Comments.
|-------- | --------------------------



Not Applicable.



|Item 4. | Mine Safety Disclosures.
|------- | ------------------------



Not Applicable.



PART II



THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH
GENERAL INSTRUCTION J(1) TO FORM 10-K:



| | (A) | Item 5  | Market for Registrant’s Common Equity, Related Stockholder
    Matters and Issuer Purchases of Equity Securities.
| | --- | ------- | -----------------------------------------------------------------------------------------------------------------
| | (B) | Item 6  | Selected Financial Data.                                                                                         
| | (C) | Item 7  | Management’s Discussion and Analysis of Financial Condition
    and Results of Operation.                        
| | (D) | Item 7A | Quantitative and Qualitative Disclosures About Market Risk.                                                      
| | (E) | Item 8  | Financial Statements and Supplementary Data.                                                                     
| | (F) | Item 9  | Changes in and Disagreements with Accountants on Accounting and Financial
    Disclosure.                        
| | (G) | Item 9A | Controls and Procedures.                                                                                         
| |     |         |                                                                                                                  

|Item 9B. | Other Information.
|-------- | ------------------



None.



PART III



THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH
GENERAL INSTRUCTION J(1) TO FORM 10-K:



| | (A) | Item 10 | Directors, Executive Officers and Corporate Governance.                                            
| | --- | ------- | ---------------------------------------------------------------------------------------------------
| | (B) | Item 11 | Executive Compensation.                                                                            
| | (C) | Item 12 | Security Ownership of Certain Beneficial Owners and Management and
    Related Stockholder Matters.
| | (D) | Item 13 | Certain Relationships and Related Transactions, and Director Independence.                         
| | (E) | Item 14 | Principal Accounting Fees and Services.                                                            







PART IV



|Item 15. | Exhibits, Financial Statement Schedules.
|-------- | ----------------------------------------



| | (a) | (1)                                                                                           | Not applicable.                                                                                  
| | --- | --------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------
| |     |                                                                                               |                                                                                                  
| |     | (2)                                                                                           | Not applicable.                                                                                  
| |     |                                                                                               |                                                                                                  
| |     | (3)                                                                                           | The exhibits filed in response to Item 601 of Regulation S-K are listed
    in the Exhibit Index.
| |     |                                                                                               |                                                                                                  
| | (b) | The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.
| |     |                                                                                               |                                                                                                  
| | (c) | None.                                                                                        
| |     |                                                                                              

|Item 16. | Form 10-K Summary.
|-------- | ------------------



Not Applicable.



SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL
INSTRUCTION J(2) TO FORM 10-K:



Item 1112(b) of Regulation AB. Significant Obligors of Pool
Assets (Financial Information).



Not Applicable.



Item 1114(b)(2) of Regulation AB. Credit Enhancement and
Other Support, Except for Certain Derivatives Instruments (Information Regarding Significant Enhancement Providers – Financial
Information).



Not Applicable.



Item 1115(b) of Regulation AB. Certain Derivatives Instruments
(Financial Information).



Not Applicable.



Item 1117 of Regulation AB. Legal Proceedings.



No legal proceedings are pending against any of USAA Federal
Savings Bank (in its capacity as the sponsor, (the “Sponsor”), in its capacity as an originator contemplated by Item
1110(b) of Regulation AB, (the “Originator”), in its capacity as servicer, (the “Servicer”) and in its
capacity as administrator (the “Administrator”) of USAA Auto Owner Trust 2015-1 (the “Issuing Entity”),
USAA Acceptance, LLC (the “Depositor”),Wells Fargo Delaware Trust Company, National Association (the “Owner
Trustee”) or the Issuing Entity, or of which any property of the foregoing is the subject, that are or would be material
to holders of the asset-backed notes (the “Notes”) or the asset-backed certificate (the “Certificate”).
No such proceedings are known to be contemplated by governmental authorities.



U.S. Bank National Association, as the indenture trustee (the
“Indenture Trustee”), has provided the following information for inclusion in this Form 10-K:



Since 2014 various plaintiffs or groups of plaintiffs, primarily
investors, have filed claims against U.S. Bank National Association (“U.S. Bank”), in its capacity as trustee or successor
trustee (as the case may be) under certain residential mortgage backed securities (“RMBS”) trusts. The plaintiffs
or plaintiff groups have filed substantially similar complaints against other RMBS trustees, including Deutsche Bank, Citibank,
HSBC, Bank of New York Mellon and Wells Fargo. The complaints against U.S. Bank allege the trustee caused losses to investors
as a result of alleged failures by the sponsors, mortgage loan sellers and servicers for these RMBS trusts and assert causes of







action based upon the trustee’s purported failure to
enforce repurchase obligations of mortgage loan sellers for alleged breaches of representations and warranties concerning loan
quality. The complaints also assert that the trustee failed to notify securityholders of purported events of default allegedly
caused by breaches of servicing standards by mortgage loan servicers and that the trustee purportedly failed to abide by a heightened
standard of care following alleged events of default.



Currently U.S. Bank is a defendant in multiple actions alleging
individual or class action claims against the trustee with respect to multiple trusts as described above with the most substantial
case being: BlackRock Balanced Capital Portfolio et al v. U.S. Bank National Association, No. 605204/2015 (N.Y. Sup. Ct.)
(class action alleging claims with respect to approximately 794 trusts) and its companion case BlackRock Core Bond Portfolio
et al v. U.S. Bank National Association, No. 14-cv-9401 (S.D.N.Y.). Some of the trusts implicated in the aforementioned Blackrock
cases, as well as other trusts, are involved in actions brought by separate groups of plaintiffs related to no more than 100 trusts
per case.



U.S. Bank cannot assure you as to the outcome of any of the
litigation, or the possible impact of these litigations on the trustee or the RMBS trusts. However, U.S. Bank denies liability
and believes that it has performed its obligations under the RMBS trusts in good faith, that its actions were not the cause of
losses to investors and that it has meritorious defenses, and it intends to contest the plaintiffs’ claims vigorously.



Item 1119 of Regulation AB. Affiliations and Certain Relationships
and Related Transactions.



Information required by Item 1119 of Regulation AB has been
omitted from this report on Form 10-K in reliance on the Instruction to Item 1119.



Item 1122 of Regulation AB. Compliance with Applicable Servicing
Criteria.



The Servicer and the Indenture Trustee (collectively, the “Servicing
Parties”) have each been identified by the Depositor as parties participating in the servicing function with respect to
the asset pool held by the Issuing Entity. Each of the Servicing Parties has completed a report on an assessment of compliance
with the servicing criteria set forth in paragraph (d) of Item 1122 of Regulation AB applicable to it (each, a “Servicing
Assessment Report”), which Servicing Assessment Reports are attached as exhibits to this Form 10-K. In addition, each of
the Servicer and the Indenture Trustee has provided an attestation report (each, an “Attestation Report”) by an independent
registered public accounting firm, which reports are also attached as exhibits to this Form 10-K. Neither the Servicing Reports
nor the Attestation Reports for the Indenture Trustee and the Servicer have identified any material instances of noncompliance
with the servicing criteria described in such Servicing Report as being applicable to the Indenture Trustee or the Servicer, as
applicable.



Item 1123 of Regulation AB. Servicer Compliance Statement.



The Servicer has completed a statement of compliance with its
activities during the reporting period and of its performance under the applicable servicing agreement (a “Compliance Statement”),
signed by an authorized officer of the Servicer. The Compliance Statement is attached as Exhibit 35.1 to this Form 10-K.







SIGNATURES



Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Depositor has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.



| | USAA ACCEPTANCE, LLC                                                                                      |                    
| | --------------------------------------------------------------------------------------------------------- | -------------------
| |                                                                                                           |                    
| | By:                                                                                                       | /s/ Thomas Cianelli
| | Name:                                                                                                     | Thomas Cianelli    
| | Title:     Senior Vice President, Treasurer (senior officer in charge of securitization of the depositor) |                    



Date: March
30, 2017



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.



Not Applicable.







EXHIBIT INDEX



|Exhibit 3.1  | Amended and Restated
    Limited Liability Company Agreement of the Depositor (incorporated by reference from Exhibit 3.1 to Form S-3 of Depositor
    filed with the Commission on October 29, 2012).                                                                                                                  
|------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 4.1  | Indenture, dated as of July
    29, 2015, between the Issuing Entity and the Indenture Trustee (incorporated by reference from Exhibit 4.1 to the Issuing
    Entity’s filing on Form 8-K filed with the Commission on July 30, 2015).                                                                                  
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 10.1 | Purchase Agreement, dated
    as of July 29, 2015, between USAA Federal Savings Bank, as seller, and the Depositor (incorporated by reference from Exhibit
    10.1 to the Issuing Entity’s filing on Form 8-K filed with the Commission on July 30, 2015).                                                             
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 10.2 | Sale and Servicing Agreement,
    dated as of July 29, 2015, among the Issuing Entity, the Depositor, and USAA Federal Savings Bank, as servicer, and the Indenture
    Trustee (incorporated by reference from Exhibit 10.2 to the Issuing Entity’s filing on Form 8-K filed with the Commission
    on July 30, 2015).
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 10.3 | Administration Agreement,
    dated as of July 29, 2015, among the Issuing Entity, the Administrator and the Indenture Trustee (incorporated by reference
    from Exhibit 10.3 to the Issuing Entity’s filing on Form 8-K filed with the Commission on July 30, 2015).                                                 
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 10.4 | Amended and Restated Trust
    Agreement, dated as of July 29, 2015, between the Depositor and the Owner Trustee (incorporated by reference from Exhibit
    10.4 to the Issuing Entity’s filing on Form 8-K filed with the Commission on July 30, 2015).                                                               
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 31   | Certification of Senior Officer
    in Charge of the Servicing Function of the Servicer Pursuant to Rule 15d-14(d).                                                                                                                                                                                                     
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 33.1 | Report on Assessment of Compliance
    with Applicable Servicing Criteria of USAA Federal Savings Bank.                                                                                                                                                                                                                 
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 33.2 | Report on Assessment of Compliance
    with the Servicing Criteria of U.S. Bank National Association.                                                                                                                                                                                                                   
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 34.1 | Attestation Report on Assessment
    of Compliance with the Servicing Criteria of Ernst & Young LLP, on behalf of USAA Federal Savings Bank.                                                                                                                                                                            
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 34.2 | Attestation Report on Assessment
    of Compliance with Servicing Criteria of Ernst & Young, on behalf of U.S. Bank National Association.                                                                                                                                                                               
|             |                                                                                                                                                                                                                                                                                                                         
|Exhibit 35.1 | Annual Servicer Compliance
    Statement of the Servicer for the year ended December 31, 2016.