Oh my gosh, yes, a bike is a fabulous thing to have! Do you need it from day one? No. (My son didn’t have one until sophomore year.)
Room in your car is best reserved for more important items. But maybe parents’ weekend would be a good time to bring it…be sure to “register” the bike, though. All bikes on campus must be registered with DOTS (Department of Transportation Services) http://www.transportation.umd.edu/bike_campus.html.
I’m not sure it’s done every year, but I know that in the past they have given away bike locks to encourage early registration…