Sec Form 3 Filing - Alvarez Juan Carlos @ Santander Consumer USA Holdings Inc. - 2019-12-02

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Alvarez Juan Carlos 2. Issuer Name and Ticker or Trading Symbol Santander Consumer USA Holdings Inc. [ SC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O SANTANDER CONSUMER USA HOLDINGS INC., 1601 ELM STREET, SUITE 800 3. Date of Earliest Transaction (MM/DD/YY) 12/02/2019 (Street) DALLAS, TX75201 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 23,238 ( 1 ) ( 2 ) ( 3 ) D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Alvarez Juan Carlos C/O SANTANDER CONSUMER USA HOLDINGS INC. 1601 ELM STREET, SUITE 800 DALLAS, TX75201 X Signatures /s/ Kristopher Tate, Attorney-in-Fact 12/11/2019 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Includes 2,121 restricted stock units (RSUs) that were granted on March 1, 2018 under the Santander Consumer USA Holdings Inc. Omnibus Incentive Plan (the "Plan"). 60% of the original award of 7,953 RSUs vested at grant on March 1, 2018 and 13.33% of the original award of RSUs vested on March 1, 2019. The remaining RSUs will vest in equal installments on each of March 1, 2020 and March 1, 2021. After the shares subject to the RSUs vest and are settled, they remain subject to transfer and sale restrictions for a period of one year. ( 2 )Includes 7,826 RSUs that were granted on March 1, 2019 under the Plan. 60% of the original award of 19,565 RSUs vested at grant on March 1, 2019. The remaining RSUs will vest in equal installments on each of March 1, 2020, March 1, 2021 and March 1, 2022; provided, that performance metrics described in the applicable award agreement must be satisfied for the March 1, 2022 installment to vest. After the shares subject to the RSUs vest and are settled, they remain subject to transfer and sale restrictions for a period of one year. ( 3 )Includes 13,291 shares of Common Stock that settled upon the vesting of RSUs under the Plan as described in footnotes 1-2.

Remarks: Power of Attorney filed as Exhibit 24 to the Form 3 filed on October 6, 2017.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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