A multifarious cargo carrier system for mounting on the rear of a vehicles having hitch receivers, step bumper hitches, custom hitches, or other means of attachment. The carrier system includes a base member having one end connectable within a hitch receiver and the other end attachable to a step bumper hitch or custom hitch. A tightening pin is used to tightly secure the base within a hitch receiver. Tightening pins are also used to connect the proximal end of a support arm to either end of the base and to attach the carrier assembly to the distal end of the support arm. The use of tightening pins allows the base to be folded up against the support arm and the carrier assembly to be folded down against the support arm for shipping and storage, as well as permitting access to the rear of the vehicle by pivoting the support arm down and and away from the vehicle. Cargo is carried on parallel cargo/carrier bars and secured by sliding the distal ends of the cargo/carrier bars through matching holes in the security assembly and sliding the security bar of the security assembly through the security hole in the locking plate of the cargo assembly and placing a locking device through the lock hole in the security bar. Equipment such as bicycles, skis, and snowboards can be carried on a single multi-use carrier without the need for additional accessories. An optional bottom bracket and security assembly doubles the capacity of the multi-use carrier to transport skis, snowboards and similar equipment. A cargo box carrier which can be loaded at ground level and transported vertically behind the vehicle utilizes the same base as the multi-use carrier.