Break-in period.

Now, what is engine redlining ?

Now we all know that when we first get a car, it is generally a bad idea to redline the engine.
You're not an F1 racer, redlining the engine is calling for trouble, as it not only puts serious strain of the engine (Doesn't mean instant engine failure, but increases the chance that your engine will fail over time)
but it messes with the transmission, and really, all sorts of different things, and over-revving can prove to be a very costly thing over time.
If you want to limit the power, and prevent serious damage to happen to the engine by accident (Or if you simply want to stop a brute and a savage like me from damaging your car (Have a son?))
Then you might do well to acquire a Rev Limiter (Pretty self explanatory name)

Here's one (Picture courtesy of google.com):

Over-revving, or redlining, is something that is an absolutely stupid thing to do, do NOT let anyone tell you otherwise.

It doesn't matter if modern cars come with computers to prevent such things from happening (Some modern cars have computers that will cut the passage of gas to the engine in order to prevent serious engine damage), chances are, if you're taking the car that far, then damage will come before the red line.

Here are some of the things you might damage, if you utilise engine braking, or redline your car.

-Transmission (Few grand to get repaired)
-Clutch (Probably about a grand)
-Engine (Whether it's a blown engine, or just burnt pistons, it's probably going to cost a couple of grand)
-Tires (Burnouts in lower-end cars require serious engine revving, on higher end cars it'll still require you to change tires a lot sooner than intended, especially if you do it often)