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) May 11, 2016

SANTANDER DRIVE AUTO RECEIVABLES TRUST 2016-2

(Exact Name of Issuing Entity as Specified in its Charter)

Commission File Number of Issuing Entity: 333-206684-02

Central Index Key Number of Issuing Entity: 0001672712

SANTANDER DRIVE AUTO RECEIVABLES LLC

(Exact Name of Depositor as Specified in its Charter)

Commission File Number of Depositor: 333-206684

Central Index Key Number of Depositor: 0001383094

SANTANDER CONSUMER USA INC.

(Exact Name of Sponsor as Specified in its Charter)

Central Index Key Number of Sponsor: 0001540151

Delaware

(State or Other Jurisdiction of Incorporation of Registrant)

61-6565416

(Issuing Entity’s I.R.S. Employer Identification No.)

(214) 292-1930

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(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:

On May 11, 2016 (the “Closing Date”), Santander Consumer USA Inc. (“SC”) and Santander Drive Auto Receivables LLC (“Santander Drive”) entered into a Purchase Agreement, dated as of the Closing Date (the “Purchase Agreement”), pursuant to which SC transferred to Santander Drive certain motor vehicle retail installment sales contracts and installment loans relating to certain new and used automobiles, light-duty trucks and vans (the “Receivables”) and related property. Santander Drive Auto Receivables Trust 2016-2 (the “Issuer”), a Delaware statutory trust, was established by a Trust Agreement dated as of April 15, 2016, which was amended and restated by an Amended and Restated Trust Agreement dated as of the Closing Date (the “Amended and Restated Trust Agreement”) by and between Santander Drive and Wilmington Trust, National Association, as owner trustee. On the Closing Date, the Issuer entered into a Sale and Servicing Agreement, dated as of the Closing Date (the “Sale and Servicing Agreement”), with Santander Drive, as seller, SC, as servicer, and Wells Fargo Bank, National Association, as indenture trustee (the “Indenture Trustee”), pursuant to which the Receivables and related property were transferred to the Issuer. On the Closing Date, the Issuer, SC, as sponsor and servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer, entered into an Asset Representations Review Agreement, dated as of the Closing Date (the “Asset Representations Review Agreement”), relating to the review of certain representations relating to the Receivables after satisfaction of certain conditions. Also, on the Closing Date, the Issuer entered into an Indenture, dated as of the Closing Date (the “Indenture”), by and between the Issuer and the Indenture Trustee. Pursuant to the Indenture, the Issuer caused the issuance of the following notes: the Class A-1 0.75000% Auto Loan Asset Backed Notes, the Class A-2-A 1.38% Auto Loan Asset Backed Notes, the Class A-2-B LIBOR + 0.65% Auto Loan Asset Backed Notes, the Class A-3 1.56% Auto Loan Asset Backed Notes, the Class B 2.08% Auto Loan Asset Backed Notes, the Class C 2.66% Auto Loan Asset Backed Notes and the Class D 3.39% Auto Loan Asset Backed Notes (collectively, the “Publicly Registered Notes”) and the Class E 4.38% Auto Loan Asset Backed Notes (the “Class E Notes” and, collectively with the Publicly Registered Notes, the “Notes”). Also pursuant to the Indenture, the Issuer granted a security interest in the Receivables and other related property to secure the Notes. Also on the Closing Date, the Issuer, SC, as administrator, and the Indenture Trustee entered into an Administration Agreement, dated as of the Closing Date (the “Administration Agreement”), relating to the provision by SC of certain administration services on behalf of the Issuer relating to the Notes. The Publicly Registered Notes were sold to J.P. Morgan Securities LLC, BMO Capital Markets Corp., Citigroup Global Markets Inc., Lloyds Securities Inc. and Santander Investment Securities Inc. (together, the “Underwriters”) pursuant to an Underwriting Agreement dated May 3, 2016, by and among SC, Santander Drive and J.P. Morgan Securities LLC, on behalf of itself and as representative of the Underwriters. The Publicly Registered Notes have been registered pursuant to the Securities Act of 1933, as amended (the “Act”), under a Registration Statement on Form SF-3 (Commission File No. 333-206684).

Attached as Exhibit 4.1 is the Indenture, as Exhibit 10.1 is the Purchase Agreement, as Exhibit 10.2 is the Sale and Servicing Agreement, as Exhibit 10.3 is the Administration Agreement, as Exhibit 10.4 is the Amended and Restated Trust Agreement and as Exhibit 10.5 is the Asset Representations Review Agreement.

The Prospectus relating to the issuance of the Notes, which was filed with the Commission pursuant to Rule 424(b)(5) under the Act on May 5, 2016, described the characteristics of a statistical pool of receivables as of the statistical cut-off date of April 18, 2016. The characteristics of the Receivables transferred to the Issuer on the Closing Date, as of the cut-off date of April 30, 2016, are set forth on Exhibit 99.1.

SIGNATURES

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.