A rotating latch assembly for raising and lowering a vehicle, the rotating latch assembly comprising: a lift housing disposed on a center axis and extending between a first opened end and a second opened end and defining a chamber extending therebetween; a support tube slidably disposed in said chamber and extending between a first end and a second end with said first end being disposed outside of said chamber and axially spaced from said first opened end and said second end of said support tube being disposed outside of said chamber and axially spaced from said second opened end with said lift housing being movable along said support tube between an extended position and a lowered position in response to a movement provided by an actuator with said extended position being defined as said lift housing being adjacent to said first end for raising the height of the vehicle and said lowered position being defined as said lift housing being adjacent to said second end for lowering the height of the vehicle; and a retaining member disposed between said lift housing and said support tube and attached to said support tube and said lift housing for maintaining said lift housing in said extended position as said lift housing moving from said lowered position to said extended position and allowing said lift housing to move from said extended position to said lowered position, wherein said retaining member includes an inner ring and an outer ring with said inner ring being attached to said support tube and said outer ring being attached to said lift housing, wherein said inner ring is disposed between said support tube and said lift housing, extending between a lower end and an upper end, and has an interior surface and an exterior surface with said interior surface and said exterior surface extending about the center axis between said lower end and said upper end, wherein the rotating latch assembly includes a plurality of inner ring teeth circumferentially spaced from one another, extending radially outwardly from said exterior surface along said center axis to a terminal end spaced from said upper end and defining a plurality of slots between said inner ring teeth, circumferentially spaced from one another, extending along the center axis, characterized in that said terminal end for each of said inner ring teeth defines a cavity of generally V-shape extending along said center axis toward the lower end and having a nadir axially spaced from said terminal end, wherein said exterior surface of said inner ring defines a pathway extending radially inwardly toward said center axis and about said inner ring. a lift housing disposed on a center axis and extending between a first opened end and a second opened end and defining a chamber extending therebetween; a support tube slidably disposed in said chamber and extending between a first end and a second end with said first end being disposed outside of said chamber and axially spaced from said first opened end and said second end of said support tube being disposed outside of said chamber and axially spaced from said second opened end with said lift housing being movable along said support tube between an extended position and a lowered position in response to a movement provided by an actuator with said extended position being defined as said lift housing being adjacent to said first end for raising the height of the vehicle and said lowered position being defined as said lift housing being adjacent to said second end for lowering the height of the vehicle; and a retaining member disposed between said lift housing and said support tube and attached to said support tube and said lift housing for maintaining said lift housing in said extended position as said lift housing moving from said lowered position to said extended position and allowing said lift housing to move from said extended position to said lowered position, wherein said retaining member includes an inner ring and an outer ring with said inner ring being attached to said support tube and said outer ring being attached to said lift housing, wherein said inner ring is disposed between said support tube and said lift housing, extending between a lower end and an upper end, and has an interior surface and an exterior surface with said interior surface and said exterior surface extending about the center axis between said lower end and said upper end, wherein the rotating latch assembly includes a plurality of inner ring teeth circumferentially spaced from one another, extending radially outwardly from said exterior surface along said center axis to a terminal end spaced from said upper end and defining a plurality of slots between said inner ring teeth, circumferentially spaced from one another, extending along the center axis, characterized in that said terminal end for each of said inner ring teeth defines a cavity of generally V-shape extending along said center axis toward the lower end and having a nadir axially spaced from said terminal end, wherein said exterior surface of said inner ring defines a pathway extending radially inwardly toward said center axis and about said inner ring.