We just drove through Central- and Southamerica (Equador, Peru, Chile, Argentina) and did not need a Carnet anywhere although everybody told us we must have one, especially for entering Equador. For details, especially for entering Equador, contact Ricardo Rocco (aroundforpeace@yahoo.com), he really knows everything!
But a carnet is helpful for bordercrossing between USA and Canada, but I don't know if you must have one.
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