The quest for lightweight, efficient, and corrosion-resistant coil springs for vehicle suspension systems has led to the exploration of alternative materials beyond traditional steel. This study delves into the potential of composite materials, particularly carbon/epoxy and carbon/carbon nanotube/epoxy, as replacements for conventional steel coil springs in light vehicles. Through a comprehensive analysis of mechanical properties under static and dynamic loading conditions, the study demonstrates the superior performance of composite springs compared to their steel counterparts. After optimization, the deflection of the carbon/carbon nanotube/epoxy and carbon/epoxy springs decreased to 15.003 mm and 18.703 mm, respectively, and the maximum shear stress decreased by 64.63% and 62.2%, respectively. Likewise, strain energies increased to 2.3644 and 3.5616, respectively. The springs were also studied under dynamic conditions, and the result showed these springs have the ability to perform in dynamic conditions. The carbon/carbon nanotube/epoxy composite emerged as the frontrunner, exhibiting remarkable improvements in shear stress, fatigue life, strain energy, and deformation properties. The study highlights the ability of carbon/carbon nanotube/epoxy composite springs to significantly reduce weight, enhance efficiency, and extend fatigue life, making them a promising alternative for next-generation vehicle suspension systems.