A money factor is an interest rate wearing a different notation. Dealers often quote lease pricing this way instead of as an APR; multiply the money factor by 2,400 to convert it to the annual rate a lease payment formula expects.
A lower money factor isn't the whole story on a lease — the residual value the lease sets for the asset, and any fees or down payment (capitalized cost reduction) rolled into the deal, matter just as much to the monthly payment.