Abstract: A squatdown axle and suspension system for vehicles used to haul cargo provides a frame, a cargo bed attached to the frame, at least two wheels, and an adjustable suspension system for suspending the frame on the wheels between a transport position in which the frame and cargo bed are generally parallel to the road surface and a load position in which the cargo bed is lowered to the road surface. In one embodiment the suspension system includes at least one air bag which can be alternately inflated or deflated to adjust the position of the cargo bed and frame with respect to the road surface. A removable pulley for use with a winch and cable and an adjustable axle assembly are also provided.