A toy lowrider model vehicle which simulates the lifting and lowering movement of a full-size lowrider vehicle. The toy vehicle, preferably wireless or remote controlled having an onboard control signal receiver and battery power, has a chassis which supports spaced front and rear suspension assemblies each including a transverse axle supporting a wheel thereon for rotation and chassis support. Each suspension assembly is preferably independently movable, carrying an axle and wheel thereon for controlled up and down movement to selectively raise and lower each corner of the chassis separately or in any desired combination together. Lifting motors supported on the chassis each include an output shaft connected to one corresponding suspension assembly whereby the corresponding axle and wheel thereon are carried to move up or down to effect the corresponding corner of the chassis to raise or lower in lowrider fashion. A drive motor rotatably drives at least one axle and wheel carried thereon to propel the toy vehicle. A steering motor preferably is also provided to selectively steer the front wheels.