Yes, in fact you MUST file Schedule C as a Self-Employed Taxpayer since you are NOT an employee.
Yes, you will report expenses, including vehicle expenses.
Keep track of your mileage or depreciation since that will be needed when you sell the vehicle.
You will be liable for your Self-Employment (FICA) tax since there is no employer withholding and submitting that tax for you.
TurboTax link for more information