The present disclosure relates to a system readily configurable for use as either a step rail along a side of a motor vehicle, or also as a loading ramp for use in loading and unloading cargo to and from a cargo bed of the motor vehicle. The system makes use of a ramp assembly and a plurality of hangers. The hangers each have a first end which is affixed to a portion of the vehicle, and a second end on which the ramp assembly may releasably be supported from and secured to, and thus used as a step rail. The ramp assembly has at least one latching mechanism that can be secured to a striker post on one of the hangers, and a release element. The release element allows the ramp assembly to be detached from the striker post and used as a loading ramp.