[citation needed] After rising through the ranks of New Zealand Formula Ford, which included a third-place finish in the 2002 New Zealand Grand Prix, Gaunt moved to Australia, competing in the Formula 4000 category and winning the 2003 Australian Drivers' Championship.

After a win in the 2004 Lady Wigram Trophy driving a Dallara F3, Gaunt moved on to compete in the inaugural Toyota Racing Series, finishing third in the final standings.

[2] A season in Champ Car Atlantics followed with the Paul Newman owned Newman/Wachs Racing.

Over the 2008/09 NZ motor racing summer season Gaunt competed in the Porsche GT3 Cup Challenge with the XXX Motorsport team, finishing 3rd overall and then stepped up to a full-time drive for McElrea Racing in the Australian Fujitsu Development Series.

From there he was recruited by Lucas Dumbrell Motorsport to drive in the 2010 V8 Supercar Championship Series but was replaced mid season.