I have one coming in here to paint as well. First thing I will do on this one is to completely strip all the old paint off from it. I will use a very fine media and sand blast it. If the paint is not to bad on it you do not have to strip it all down. Just sand it good. Then I will use a metal etching that you can get from the automotive paint store. Then it needs to be primed, wet sanded, primed again and then you can paint it then clear coat it.
Yes you can use automotive paint. Painting a boat like that is always kind of a fun project. Takes more time then anything.