Slade made a rapid start to a wet Taupo opener from the second row of the grid and tried to split front-row starters Waters and Will Brown on the way to Turn 1.
The gap quickly disappeared once he was between them, though, contact with polesitter Waters sending them both into the wall inside the main straight.
Waters was able to keep going, albeit at the back of the field, while Slade was out of the race on the spot.
PHOTOS: Taupo Supercars start crash
“I’m super disappointed,” the PremiAir driver told the broadcast.
“The team has been awesome and then car has been really good. I hate to see it end that way.
“I just got a really good start and went through the gap and the gap closed. I don’t know, in hindsight you get out of the throttle and follow the car that’s in front of you. But you’re a racer.
“Like I said, I had a really good start and there was a gap there, and then there wasn’t.”
Nash, however, indicated that Slade was at fault.
“A bit monumental seeing we hadn’t even made it to Turn 1,” he said.
“It’s pretty wet out there, I would have thought a little bit more common sense would have prevailed on the opening start.
“But anyway, there was a lot going on there with cars slow off the mark. The contact happened with Cam and it’s knocked the steering around a little bit. We just checked it the best we can, we’ll have to see from here.
“It’s a tough gig getting pole any time, so now being lucky last he’s got his work cut out for him.”