No one knows! Pretty much any steel that resists corrosion is called 'Stainless', irrespective of which of the 5 or 6 main families it's actually in. Some can be annealed, some are magnetic, some work-harden, others not. Some is extremely hard, other types machine reasonably well. As it was bought from an auto-jumble, the alloy is unknown, as is whether it's hot or cold rolled, or already annealed. I'd cut a bit off and experiment.
Generally I avoid stainless, but where I have used it the trick seems to be to keep cutting at all costs, applying plenty of force and cooling lubrication. If the stainless is the type that work-hardens, and the scrap I've picked up usually is – then any rubbing instantly makes the steel as hard as HSS and blunts the tool. If this isn't immediately noticed, the blunt tool causes work-hardening to go deeper making it difficult to restart; newly sharpened tools can be defeated at the get go.
Advice in my books about annealing Stainless varies considerably depending on the alloy, but they all require the temperature to be held for an hour and then call for rapid cooling. The lowest temperature I've seen for annealing a stainless is 270C, the highest – for a different alloy – 1100C. This is to fully anneal the metal; might get away with less heating because it only needs to be softened enough to cut. Which it might be already?
Not a fan of stainless in my workshop!
Dave