A boat trailer (10) includes a wheeled chassis (11) which has a fixed cradle (12) for supporting the boat. The trailer is provided with an extendable drawbar (16) whereby the trailer may be close coupled to a towing vehicle for road transport or extended to enable the cradle (12) to be submerged at a launching ramp whereby the boat may be floated to and from the cradle. The drawbar (16) may be inclined to the chassis rails (30) so that the front of the cradle (12) is lowered when the drawbar (16) is extended.