yes by using a reflection map. It works just like a bump map that makes the lines and such on your hood/doors etc... except it tells max where to be shiny and where not to be.
If you look over in your material editor in max (where the paint job goes) there is diffuse, which holds the paint scheme itself, then below it is reflection and a button next to it that has the reflection map in it. If it's one of my scenes, it's probably a medium gray 1024x1024 named light.tga.
You need to replace that light.tga with one that you have created in photoshop with the area you want matted blacked out.
You can do this by creating the map from your paint scheme template by turning the base color a light to medium gray and then blacking out whatever it is you want matted. Just turn off every other layer in the template before saving it as matte_hood.tga or whatever.
Then open the scene and replace that reflection map with yours and render...
If you need more instruction let me know and I will provide screenshots and shed some light on it so to speak!
