Sorry for the late response. I’ve been out of town in Federated Identity Management training, ugh! 
Yes, it most certainly is! You have a several ways to accomplish this. Just to name a few, you could make the vehicle respawn…
- in it’s current position,
- in a set position,
- or at the location of another object.
Here’s how you would make it respawn in-place (same facing, orientation, etc.)…
In short, what we’ve done is told the Sedan BP that when we press the F key, we are going to tell the Game Mode to set the Spawn Transform (where we get spawned) to the Actor’s current Transform prior to it being destroyed. Then we destroy the actor, and the Game Mode respawns the pawn in the new set Transform.
Something to consider: if you are going to have your actor flip over/run off-road/sink in a lake/etc., you probably won’t want to use this method specifically. However, this is a very basic idea, and should get you moving in the right direction. Use this as your base, and figure out what it is you need to accomplish to make the actor spawn somewhere other than it’s current location (location of something else), as well as to set it’s orientation on spawn (upright, facing the correct direction, etc.).