More important than the class of vehicle is the safety rating. Some compacts are hideous and I would never plan to have one with or without children. Other cars, though small, have good crash ratings. So, my first answer is to choose safety for your family.
Secondly though, I believe the notion that a family of 4 or 5 NEEDS a SUV or minivan is ludicrous. If you WANT one, then fine. But I get sick of hearing people saying that they need one because they have 2 or 3 kids. People had kids before SUVs and minivans you know? A basic Accord, Camry, etc. will easily hold 3 children safely and comfortably.
It is just a matter of choice.
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"Debt is the slavery of the free." ~ Publilius Syrus
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