Cole enjoyed a successful spell on loan with the Ligue Un club last season but he has failed to win over new Liverpool boss Brendan Rodgers since returning to Anfield.
The 30-year-old has played a little over half an hour in the Premier League so far this season and his performance against Swansea in the Capital One Cup recently was heavily criticised by fans.
However, Garcia has revealed Cole's wages, reported to be around £90,000-a-week, are well out of Lille's reach.
"I'd take him back in my team because he would be perfect for the style of play in the French league," Garcia told le10sport. "However, economic issues does not allow this to happen."