Nonlinear features of elastic wave propagation have attracted significant attention recently. The particular interest herein relates to complex wave-structure interactions, which provide potential new opportunities for feature discovery and identification in a variety of applications. Due to significant complexity associated with wave propagation in nonlinear media, numerical modeling and simulations are employed to facilitate design and development of new measurement, monitoring and characterization systems. However, since very high spatio- temporal accuracy of numerical models is required, it is critical to evaluate their spectral properties and tune discretization parameters for compromise between accuracy and calculation time. Moreover, nonlinearities in structures give rise to various effects that are not present in linear systems, e.g. wave-wave interactions, higher harmonics generation, synchronism and | recently reported | shifts to dispersion characteristics. This paper discusses local computational model based on a new HYBRID approach for wave propagation in nonlinear media. The proposed approach combines advantages of the Local Interaction Simulation Approach (LISA) and Cellular Automata for Elastodynamics (CAFE). The methods are investigated in the context of their accuracy for predicting nonlinear wavefields, in particular shifts to dispersion characteristics for finite amplitude waves and secondary wavefields. The results are validated against Finite Element (FE) calculations for guided waves in copper plate. Critical modes i.e., modes determining accuracy of a model at given excitation frequency - are identified and guidelines for numerical model parameters are proposed.