In his first season, Bunting led the Tar Heels to an 8-5 record, which included a win over Florida State 41-9. It was the Tar Heels' first win over a team ranked in the top 10 of a major media poll; the Seminoles were ranked sixth in the AP Poll at the time. They closed the season with a victory over Auburn in the 2001 Peach Bowl. However, his teams since were highly inconsistent. In 2002, Bunting's Tar Heels finished 3–9. That was followed by a 2–10 campaign in 2003. In 2004, the Tar Heels finished 6–6. UNC defeated Miami 31-28 on a last-second field goal by Connor Barth during the 2004 season; the Hurricanes were ranked fourth at the time in the AP poll. The Tar Heels capped the 2004 season with a loss in the Continental Tire Bowl to Boston College by a score of 37-24.