I once read a post on another forum where a lady explained the difference between haul (payload) and tow very clearly. She said:
I am a gardener and often mulch my flowerbeds. Mulch comes in 40 pound sacks, and I can carry one sack at a time to my flowerbeds. My payload limit is 40 pounds. However, I have a cart that I can load 10 bags onto and pull it to my flowerbeds. My tow limit is 400 pounds.
You need to look up both your tow limit AND your payload limit. My F-150 (GVWR 7,050 pounds, GCWR 17,100 pounds) has a tow limit of 11,800 pounds, and a payload limit of 1,895 pounds. That is MY truck, yours will be different.