A trailer of the type adapted to be folded from an expanded state to a compact state. The trailer includes a central chassis portion with pivot means at longitudinal ends thereof, as well as a front and rear chassis portion pivotably connected to the central chassis portion through respective front and rear pivot means. When the trailer is in the expanded state, the front chassis portion, rear chassis portion and central chassis portion extend in a substantially horizontal plane, and when the trailer is in the compact state, the front chassis portion and rear chassis portion extend substantially perpendicularly to the central chassis portion. In this state, at least one of the front or rear chassis portions extends at least partially below the central chassis portion to thereby assist in stabilizing the trailer in the compact state.