A trailer having a main body which includes a flat bed assembly with front, sides, and tailgate flat panels which are hingedly and releasably connected to a central flat floor panel. The main body is releasably connected to an upper portion of an attachment mechanism. The attachment mechanism has a lower portion adapted to be received within a rear portion of a vehicle and releasably secured thereto. The main body is supported by an air shock wheel assembly which includes a cylindrical casing having an upper housing affixed to a flat plate and depending downwardly therefrom and a lower housing slidably received within the upper housing. An air shock piston is mounted within the cylindrical casing and connected to the upper and lower housings for telescoping movement therewith. A swivel mechanism is formed at a lower end of the lower housing. A wheel supporting frame is pivotally attached to the swivel mechanism. A plurality of telescoping support arms have upper ends pivotally connected to brackets secured to the underside of the central flat floor panel and lower ends pivotally connected to brackets secured to the swivel mechanism.