This is a decent tool, maybe not stock quality but it crimps stranded wire well. Haven't tried it on 8 AWG, but in theory it works? But for tiny objects, control wires and anything else where the stranded wire is making direct contact with the tip of the screw in the terminal, this is a MUST, although many terminals these days have an expander in them so ferrules are not essential. However, they will definitely beautify the project and increase reliability and safety if used in the right places.
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