Pressure-assisted single-point incremental forming (PA-SPIF) is one of the emerging forming techniques for sheet metals that have been the subject of rigorous research over the past two decades. Understanding of its forming mechanisms and capabilities is growing as a result. Open gaps are still present in material constitutive modelling for accurate numerical predictions and finite-element simulations as the characteristics of localised deformation behaviour in SPIF are different from those of conventional sheet metal forming. The current investigation focused on the comparison of three different material models for the finite-element analysis of PA-SPIF of cold-rolled, dual-phase steel DP600. Experimental trials using different fluid pressures showed good agreement with simulation results with discrepancies in deformed blank thickness and shape geometry predictions of 3–11% and 10–21%, respectively. Within the tested materials and range of parameters, the fracture-forming-limit diagram (FFLD) material model was identified to be of superior accord with experiments.