Railway vehicle homologation, with respect to running dynamics, is addressed via dedicated norms. The results required, such as, accelerations and/or wheel-rail contact forces, obtained from experimental tests or simulations, must be available. Multibody dynamics allows the modelling of railway vehicles and their representation in real operations conditions, being the realism of the multibody models greatly influenced by the modelling assumptions. In this paper, two alternative multibody models of the Light Rail Vehicle 2000 (LRV) are constructed and simulated in a realistic railway track scenarios. The vehicle-track interaction compatibility analysis consists of two stages: the use of the simplified method described in the norm “UIC 518—Testing and Approval of Railway Vehicles from the Point of View of their Dynamic Behaviour—Safety—Track Fatigue—Running Behaviour” for decision making; and, visualization inspection of the vehicle motion with respect to the track via dedicated tools for understanding the mechanisms involved.