A new method for modeling the contact between the tool and the metal sheet for the incremental forming process was developed based on a dynamic explicit time integration scheme. The main advantage of this method is that it uses the actual contact location instead of fixed positions, e.g. integration or nodal points. The purpose of this article is to compare the efficiency of the new method, as far as accuracy and computation time are concerned, with finite element simulations using a classic static implicit approach. In addition, a sensitivity analysis of the mesh density will show that bigger elements can be used with the new method compared to those used in classic simulations.