Eibar, one of the smallest teams in the top flight, took a shock lead with three minutes remaining at the Wanda Metropolitano when striker Sergi Enrich stabbed the ball in from close range after soft goalkeeping from Jan Oblak.
Atletico had dominated proceedings but were frequently thwarted by Eibar's Serbian keeper Marko Dmitrovic and it took the unlikely figure of academy graduate Garces, 19, to pull them level in the 94th minute, thumping the ball home after controlling a cut-back from Angel Correa.
Atletico have only five points from their opening four games while title rivals Barcelona could go seven points clear of them if they beat Real Sociedad later on Saturday, as could Real Madrid, who are in action at Athletic Bilbao.
(Reporting by Richard Martin; Editing by Greg Stutchbury)
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