This work presents a study on the effects of suspension system on a Low Mass Vehicle (LMV) by changing its parameters to achieve an appropriate 'ride performance'. Both traditional and bond graph modeling techniques have been used to model and analyze the vehicle system, and a comparison between the two techniques has also been presented to decide which technique is suitable for the modeling and analysis of the vehicles' dynamics. Simulations have been performed in MATLAB and the 20-sim softwares for evaluating the ride performance, and based on these simulation results a classification for the vehicles has been proposed to see whether they are LMV or not. Furthermore, a framework for designing the LMV has also been proposed.