A finite element vibration model of a multiple wheel–rail system which consists of four wheels, one rail,and a series of sleepers is established to address the problem of rail corrugation in high-speed tracks. In the model, the creep forces between the wheels and rail are considered to be saturated and equal to the normal contact forces times the friction coefficient. The oscillation of the rail is coupled with that of wheels in the action of the saturated creep forces. When the coupling is strong, selfexcited oscillation of the wheel–rail system occurs. The self-excited vibration propensity of the model is analyzed using the complex eigenvalue method. Results show that there are strong propensities of unstable self-excited vibrations whose frequencies are less than 1,200 Hz under some conditions. Preventing wheels from slipping on rails is an effective method for suppressing rail corrugation in high-speed tracks. A finite element vibration model of consisting of four wheels, one rail, and a series of sleepers is established to address the problem of rail corrugation in high-speed tracks. In the model, the creep forces between the wheels and rail are considered to be saturated and equal to the normal contact forces times the friction coefficient. The oscillation of the rail is coupled with that of wheels in the action of the saturated creep forces. When the coupling is be saturated and equal to the normal contact forces times the friction creep The self-excited vibration propensity of the model is analyzed using the complex eigenvalue method. Results show that there are strong propensities of unstable self-excited vibrations whose frequencies are less than 1,200 Hz under some conditions. Preventing wheels from slipping on rails is an effective method for suppressing rail corrugation in high-speed tracks.