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The main objective of this study is to apply a dynamic parameter identification methodology to a double-wishbone type front suspension of a race car. Two methodologies for identification are presented: the first one is based on the Singular Value Decomposition (SVD) and elimination by means of the relative standard deviation of each parameter, while the second comprises three consecutive steps: the elimination of those less contributive parameters, the application of SVD method and elimination by relative standard deviation. The physical feasibility of the obtained parameters is taken into account. Both methodologies are validated with collected data of virtual simulation in a computational package program.