In this work, a mathematical model is developed for simulating the vibrations of a single flexible cylinder under crossflow. The flexible tube is subjected to an axial load and has loose supports. The equation governing the dynamics of the tube under the influence of fluid forces (modeled using quasi-steady approach) is a partial delay differential equation (PDDE). Using the Galerkin approximation, the PDDE is converted into a finite number of delay differential equations (DDE). The obtained DDEs are used to explore the nonlinear dynamics and stability characteristics of the system. Both analytical and numerical techniques were used for analyzing the problem. The results indicate that, with high axial loads and for flow velocities beyond certain critical values, the system can undergo flutter or buckling instability. Post-flutter instability, the amplitude of vibration grows until it impacts with the loose support. With a further increase in the flow velocity, through a series of period doubling bifurcations the tube motion becomes chaotic. The critical flow velocity is same with and without the loose support. However, the loose support introduces chaos. It was found that when the axial load is large, the linearized analysis overestimates the critical flow velocity. For certain high flow velocities, limit cycles exist for axial loads beyond the critical buckling load.