This study seeks a practical method for simulating the vertical bending fatigue test of the BANJO housing of a five-link rear axle. Linear static and transient dynamic finite element models are constructed for the rear axle in which the rubber bushings and the bearings of the axle shafts are reasonably modeled with solid and shell elements, respectively, for simplicity. The calculated results are compared with the measured strain histories, and the results indicate that the finite element models constructed are reasonable. The hypothesis of equal fatigue damage is applied to determine the Hainan proving ground driving life prediction that is equivalent to the constant amplitude fatigue life in the vertical bending fatigue test.