Dell says it will pay $3.85 million to North Carolina and 44 other states involved in the settlement.
The lawsuit claimed Dell offered customers 0 percent financing, but later applied a high interest rate without their knowledge.
The lawsuit also claims problems with Dell's warranty service and rebate programs.
North Carolina Attorney General Roy Cooper says consumers deserve straight information when they're making a purchase ? buying a computer shouldn't be tricky.
The settlement requires Dell to tell customers whether they must troubleshoot problems by phone before qualifying for in-person technical support at home.
People who bought a computer or service on or after April 1, 2005, and had a problem with a financing offer, rebate or service can file a claim within 90 days with their state attorney general.
"Thanks to this agreement, consumers will now get a chance at refunds, clearer information about financing and rebates, and better customer service," Cooper said.