Aluminum alloys are widely used as first-choice materials for lightweight automotive applications. It is important that an alloy have a balance between strength and formability. In this study, the alloys were melted, cast, hot rolled, and cold rolled into 1 mm-thick sheets. The microstructure, mechanical properties, and precipitation behavior of Al–Mg–Si–1.0 wt %-Zn alloys with Mg/Si ratios of 0.5, 1, and 2 after solution treatment were studied using optical and electron microscopy, a tensile test, the Vickers hardness test, and differential scanning calorimetry. The results showed that a high density and number of Al–Fe–Si particles were observed in the matrix, thus causing the formation of more homogeneous and smaller recrystallized grains after treatment with the solution. In addition, a higher volume fraction of cubeND and P-types texture components formed during solution treatment. Also, a high r value and excellent deep drawability were achieved in the medium-Mg/Si-ratio alloy. The formation of denser strengthening precipitates led to a better paint-bake hardening effect in comparison with the other two alloys. Furthermore, the precipitation kinetics were enhanced by the addition of Si, and the addition of Zn did not alter the precipitation sequence of the Al–Mg–Si alloy. The dual-phase strengthening effect was not achieved in the studied alloys during paint-bake treatment at 175 °C.