A semi-active suspension system using Magnetorheological (MR) damper overcomes all the inherent limits of passive and active suspension systems and combines the advantages of both. This paper gives a concise introduction to the suspension system of a passenger vehicle which is presented along with the analysis of semi-active suspension system using MR fluid dampers based on Bingham model. MR dampers are filled with MR fluids whose properties can be controlled by applying voltage signal. To further prove the statement, a quarter car model with two degrees of freedom has been used for modeling the suspension system the sprung mass acceleration of passive suspension system has been compared with the semi-active suspension system using the Bingham model for MRF damper. Simulink/MATLAB is used to carry out the simulation. The results drawn show that the semi-active suspension system performed better than the passive suspension system in terms of vehicle stability.