Wear and Rolling Contact Fatigue (RCF) on wheels and rails are influenced by relative motions between the studied rail and wheel pair, and therefore influenced by train dynamics. Wear and RCF assessments using a train dynamics approach provide more accurate and comprehensive results comparing with conventional assessments that often do not consider train dynamics. In addition, considering material property differences, currently available rail wear maps are not able to accurately describe the wear performance of materials that have significantly different properties. This paper presented a method for rail/wheel wear and RCF assessments using 3D train dynamics models. The use of train models allows the consideration of coupler forces, traction, and brakes during the assessment. Wear assessments were conducted by using an in-house rail wear map model developed from the twin disc wear machine at the Centre for Railway Engineering (CRE). The new rail wear map was developed by using the AS 60 rail material (hardness 340 HB). The results indicated that the methods proposed in this paper could be used for rail/wheel wear and RCF assessments. Traction/braking forces and coupler lateral forces had evident influences on wear and RCF assessment. Different wear maps were also shown to have significant influences on the wear rate results.