A latch assembly is provided for a holding a vehicle endgate in a closed position. The assembly includes a latch pin having a main shaft disposed generally along an axis and a projection that is spaced apart from and projects toward the main shaft axis. A first receiving member is connected to one of a vehicle frame and the endgate and has a hole for receiving the latch pin main shaft. A second receiving member is connected to the other of the frame and the endgate and has a hole for receiving the latch pin main shaft. The first receiving hole and the second receiving member hole are in alignment when the endgate is in the closed position. The first receiving member includes an inclined annular groove for receiving the latch pin projection. When the latch pin projection is disposed in the annular groove, gravity will impede the latch pin projection from exiting the groove.