In this paper we investigate flow localization in viscoplastic slender bars subjected to dynamic tension. We explore loading rates above the critical impact velocity: the wave initiated in the impacted end by the applied velocity is the trigger for the localization of plastic deformation. The problem has been addressed using two kinds of numerical simulations: (1) one-dimensional finite difference calculations and (2) axisymmetric finite element computations. The latter calculations have been used to validate the capacity of the finite difference model to describe plastic flow localization at high impact velocities. The finite difference model, which highlights due to its simplicity, allows to obtain insights into the role played by the strain rate and temperature sensitivities of the material in the process of dynamic flow localization. Specifically, we have shown that viscosity can stabilize the material behavior to the point of preventing the appearance of the critical impact velocity. This is a key outcome of our investigation, which, to the best of the authors' knowledge, has not been previously reported in the literature.