yes, the rent would have to be comparable to what an independent company in your area would charge. you have a personal reporting issue. rent of personal property would go on schedule c as would the vehicle expenses. net income would be subject to self-employment tax. if there are repeated annual losses that may pose a tax problem - the IRS could argue it's a hobby deny the losses and present you with a tax bill.
Of course, as an employee of the company being paid on a W-2, you could have the company pay you for the use of the car under an accountable plan and add it to your wages.
https://www.journalofaccountancy.com/issues/2020/feb/employee-expenses-accountable-plan.html
https://www.irs.gov/pub/irs-pdf/p5137.pdf
https://www.journalofaccountancy.com/issues/2020/feb/employee-expenses-accountable-plan.html