If you use
it may sound very formal. It often gets used for navigation and is usually associated with the military where soldiers are often asked if they are in position to do something.
As a normal person driving along the road, you might say
I'm on the highway just outside of town, and I'll be there by 4 o'clock.
If you said
My current position is heading south, south-west on highway 66 and I'll be there by 16:00 hours.
People will understand what you are saying, but how you are saying it might be made fun of, unless you were a professional pilot.
The other thing is position gets used to mean something totally different.
If someone said to you
Assume the position.
It means they will probably give you a spanking.
If you asked someone of the opposite sex
What is your position?
It may be interpreted as asking about your sexual preference.